South Korea: Flat Steel Export Rises 20% in Jan'19
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As per latest customs data, South Korea flat steel exports which includes 7208 (HR coils /Plates), 7209 (CR coils), 7225 (Electrical sheets), 7210/7212 (GP/GC) witness surge of 20% on monthly basis in to 2.14 MnT in Jan'19 which was 1.78 MnT in Dec'18.
Nation has actively exported flat steel to China, Japan and India. In the month of Jan'19, South Korea has actively exported HRC to India amid cheaper global prices along with zero import duty. Thus cost effective imports compared to Indian HRC prices results to surge in exports from Korea.
Whereas on yearly basis nation's flat steel exports remained stable at 2.14 MnT in Jan'19 and Jan'18.
In CY18 nation's flat steel export registered a marginal decline of 3% to 21.47 MnT compared to 22.19 MnT in CY17.
Commodity-wise South Korea Flat Steel Exports in Jan'19
| Sub Commodity | Jan'19 | Dec'18 | M-o-M (Change in %) | Jan'18 | Y-o-Y (Change in %) |
| HRC/Plate | 0.82 | 0.61 | 34 | 0.75 | 9 |
| Galvanised Steel | 0.61 | 0.54 | 13 | 0.62 | -2 |
| CRC | 0.34 | 0.27 | 26 | 0.3 | 13 |
| Electrical Steel | 0.20 | 0.18 | 11 | 0.22 | -9 |
| Pipes and Tubes | 0.15 | 0.16 | -6 | 0.23 | -35 |
| Others | 0.03 | 0.02 | 50 | 0.03 | 0 |
| Grand Total | 2.14 | 1.78 | 20 | 2.14 | 0 |
Quantity in MnT
Source- SteelMint Research
Country-wise South Korea Flat Steel Exports in Jan'19- Japan being the major flat steel importer of South Korea procured 0.34 MnT in Jan'19 reported surge by 48% against 0.23 MnT in Dec'18.
Second major importer China procured 0.28 MnT in Jan'19 marginally up by 4% as compared to 0.27 MnT import in Dec'18.
India's flat steel import increased by 13% to 0.26 MnT in Jan'19 against 0.23 MnT in Dec'18 from South Korea.
Other importers include Mexico at 0.2 MnT, United States at 0.15 MnT and Thailand at 0.13 MnT followed by Vietnam at 0.12 MnT, Italy at 0.09 MnT, Indonesia at 0.08 MnT and Belguim at 0.06 MnT in Jan'19.
South Korea flat steel imports in Jan'19- As per the customs data release imports of 7208 (HR coils /Plates), 7209 (CR coils), 7225 (Electrical sheets), 7210/7212 (GP/GC) significantly rose by 14% on monthly basis in Jan'19 to 0.81 MnT in comparison to 0.71 MnT in Dec'18.
While year on year the nation's flat steel imports jumped by 16% in Jan'19 against 0.7 MnT in Jan'18.
Country-wise South Korea flat steel Imports in Jan'19- China being the major exporter to South Korea exported 0.50 MnT in Jan'19, up by 32% against 0.38 MnT in Dec'18.
Secondly Japan exported 0.26 MnT in Jan'19, down by 10% as compared to 0.29 in the previous month.
Other exporters include Taiwan at 0.02 MnT, Vietnam at 0.01 MnT and Brazil at 0.01 MnT each in Jan'19.
