South Korea: Electro-galvanised steel sheet production down 14% m-o-m in Nov'21

Electro-galvanised (EGI) steel sheet production stood at 0.12 million tonnes (mn t) in Nov'21, a fall of 14% against Oct'21 and 17% against Nov'20. The production volumes in Nov'21 touched the lowest level this year, according to a SteelDaily report.

Output, in Jan-Nov'21, moved up 5% to 1.53 mn t compared to 1.45 mn t in the corresponding period last year.

Sales

Korean mills sold about 61,516 t of EGI material in the domestic market in Nov'21, lower by 19% against 75,698 t in the previous month. On the other hand, mills exported 60,455 t in Nov'21, up 13% against 53,592 t in Oct'21.

During Jan-Nov'21, mills sold 838,053 t of electro-galvanised steel sheets in the domestic market, up 3% against 814,921 t in the same period last year. Exports stood at 666,556 t, up 4% against 642,002 t in Jan-Nov'20.

Region wise sales y-o-y

Shipments to Japan, China, South East Asia, the Middle East and Europe moved up 37%, 13%, 14%, 88% and 24% respectively, in Nov'21.

On the other hand, sales to Latin America, Oceania and South West Asia edged down by 36%, 240% and 73% respectively, in the month under review.