South Korea: Colour steel sheet exports, imports continue to decline in Oct'22

South Korea's colour steel sheets export and import volumes continued to decline in October 2022. Export volumes of colour steel sheets stood at 74,177 tonnes (t) in October, down 43% on the year from 129,311 t in same period last year. Exports dropped by 13% m-o-m against 85,636 t in September, as per Korea Steel Association data.

During the first 10 months of CY22, the country's colour steel sheet exports volumes were recorded at 1.05 million tonnes (mnt), down 5% from 1.11 mnt in the same period previous year.

Imports down y-o-y

Colour steel sheet imports to South Korea declined 26% y-o-y to 22,451 t in October 2022, against 30,433 t in October 2021.However, volumes saw an increase of 35% m-o-m against 16,619 t in September 2022.

On a cumulative comparison, imports dropped by 28% y-o-y to 266,040 t during January-October 2022, against 369,578 t seen in corresponding period last year (CPLY).

Outlook
Slow demand from key industries namely construction and home appliances have kept the export and imports of colour steel sheet under pressure, and this trend is likely to continue till the end of CY22.

Note: This article has been written in accordance with an article exchange agreement between Steel Daily and SteelMint.