South Korea: CR steel sheet sales down 2%, y-o-y, in Feb'22

South Korea's cold-rolled (CR) steel sheets sales aggregated to 619,239 tonnes (t) in Feb'22, down 2% y-o-y against 633,720 t in Feb'21. Sales volume decreased by 13% m-o-m compared to 712,259 t in the preceding month.

In Jan-Feb'22, CR steel sheet sales remained largely flat at 1.33 mnt in comparison with the same period last year.

Region wise sales

Korean mills lowered their CR steel sheets sales to Southwest Asia by more than 50% to 14,795 t in Feb'22. Sales to Malaysia stood at 11,446 t (down 40%), followed by Japan and China at 28,343 t and 47,864 t each respectively.

On the other hand, CR steel sheets sales to Taiwan, Europe, Indonesia and Latin America rose significantly by 147%, 67%, 19% and 15% each respectively in Feb'22.

Production drops 5% y-o-y

South Korean mills churned out 621,396 t of CR steel sheets in Feb'22 versus 657,302 t in the corresponding period last year (CPLY). Also, on a monthly basis, the same dropped by 14% against 722,297 t in Jan'22.

In Jan-Feb'22, CR steel sheet production stood at 1.34 mnt, down 3% as against 1.38 mnt in the same period last year.

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