South Korea Flat Steel Exports Fell Marginally in CY17
...
South Korea - world's fourth-largest steel exporter witnessed marginal decline of 3% in CY17 in its steel export volumes against previous year. Major destinations of South Korean exports in CY17 were China,Japan and India.
As per latest customs data released, South Korea flat steel exports which includes 7208 (HR coils /Plates),7209 (CR coils),7225 (Electrical sheets),7210/7212 (GP/GC) registered a marginal decline of 3% in CY17 to 22.19 MnT compared to 22.81 MnT in CY16.
Amid strict trade protectionist measures against South Korea's steel products by the US, Korea's steel industry has observed fall in export volumes.
On Y-o-Y basis also nation's flat steel export volumes plunged by 8% to 1.81 MnT in Dec'17 against 1.96 MnT in Dec'16.
However on monthly basis country's flat steel exports rose sharply by 10% in Dec'17 against 1.65 MnT in Nov'17.
Grade-wise South Korea Flat Steel Exports in CY17
| Sub Commodity | Dec'17 | Nov'17 | M-o-M (Change in %) | CY17 | CY16 | Y-o-Y (Change in %) |
| HRC/Plate | 0.82 | 0.62 | 32.25 | 8.94 | 9.97 | -10.33 |
| Galvanised Steel | 0.54 | 0.57 | -5.26 | 6.84 | 6.5 | 5.23 |
| CRC | 0.26 | 0.25 | 4 | 3.72 | 3.81 | -2.36 |
| Electrical Steel | 0.16 | 0.18 | -11.11 | 2.38 | 2.34 | 1.7 |
| Others | 0.03 | 0.03 | 0 | 0.31 | 0.2 | 55 |
| Grand Total | 1.81 | 1.65 | 10% | 22.19 | 22.82 | -3% |
Quantity in MnT
Source-SteelMint Research
Country-Wise South Korea Flat Steel Exports in CY17-China remained the largest importer of flat steel from South Korea and accounted 15.43% (3.42 MnT) of share in CY17.
Other major importers in 2017 include Japan which stood at 13.52%,( 3MnT),India at 11% (2.43 MnT),followed by Mexico at 7.50% (1.66 MnT) and Thailand at 6% (1.32 MnT).
On monthly basis in Dec'17,China imported 0.29 MnT of flat steel up by 4% against 0.28 MnT in Nov'17.
Japan imported 0.22 MnT in Dec '17 against 0.24 MnT in previous month.However imports to India increased by 11% to 0.20 MnT in Dec'17 against 0.18 MnT in Nov'17.
