South Korea: Electro-galvanised steel sheet sales drop by over 5%, m-o-m, in Feb'22

South Korea's domestic manufacturers of electro-galvanised steel sheet (EGI) registered a marginal 5.5% decline in sales at 137,472 tonnes (t) in Feb'22 compared to the previous month. Meanwhile, production of EGI in February was reported at 135,756 t, according to the Korea Steel Association.

Domestic, overseas sales

Domestic sales of EGI remained unchanged at 76,159 t in Feb'22 compared to the previous month, while overseas sales further fell by 11.4% month-on-month (m-o-m) to 61,313 t, posting sluggish overseas sales.

EGI country-wise sales

Regions where EGI sales decreased in February were Southeast Asia at 7,458 t, down 14.7% year-on-year (y-o-y) and Southwest Asia reported its sales at 2,140 t, down 61.8% y-o-y.

On the other hand, the regions where EGI sales increased were Japan 4,175 t, (up 32.5% y-o-y), China (13,249 t, up 9.8% y-o-y), Saudi Arabia (3,093 t, up 205% y-o-y), Europe (up 39% y-o-y), Latin America (17,035 t, up 28.7% y-o-y), and South America (1,186 t, up 50% y-o-y).

Total production

From Jan-Feb'22, the cumulative production of EGI was at 279,148 t (up 4.3% from the same period of the previous year), and the sales volume was 289,946 t (up 6.9% y-o-y).

Note: This insight has been published in accordance with an article exchange agreement between SteelMint and SteelDaily.