South Korea Finish Long Steel Imports Surge by 12% in July

South Korea -world's 6th largest steel producer has reported increased in its monthly Finish long steel imports, as per custom data maintained with SteelMint.

As per data, the nation has imported about 151,157 MT Finish long steel in Aug'18, increased about 12.29% (16,551 MT) M-o-M against 134,606 MT in Jul'18.

Coming to total imports in CY 2018 (Jan-Aug), the nation has imported about 1,375,173 MT Finish long steel; down by 36.65% as compared to 2,170,941 MT in the same preceding last year.

On yearly basis Aug'18 imports of the nation declined by 39.14% against 248,378 MT in Aug'17.

Sub-Commodity Wise

Under Finish Long commodities following HS Codes has been considered - Bar & Rod (HS Code 7213 & 7214), Angle & Shapes (HS Code 7215 & 7216) & MS Wire (HS Code 7217).

During Aug'18, Rebar have contributed the major imports proportionate and registered at 75,848 MT, up by 28.55% followed by Structure 61,188 MT, rise by 2.77% and remaining MS Wire registered at 14,122 MT, down by 12.12% M-o-M basis.

Country Wise

Out of total Finish long Steel imports in Aug'18, major imports was made by China registered at 77,465 MT (+44.73%) followed by Japan 52,550 MT (-13.42%) and Vietnam registered at 16,121 MT (-6.15%).

Updates

-- South Korea origin Seamless Tubes being imposed CVD of USD 13.12 cents/kg by Mexico, as per sources.

-- As of May'18, South Korea impose (AD) of 8.6% on Imports of galvanized steel wire origin by China for 5 years, as per sources.

-- As per latest report from market sources to SteelMint, a west India based steel mill - Essar Steel has booked around 20,000 MT of HRC for export to South Korea. The deal has been concluded in range of USD 583-585/MT CFR basis for October-November shipments.