South Korea Flat Steel Imports Decline 5% in Sep'17
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According to the latest customs data, South Korea flat steel imports which includes 7208 (HR coils /Plates),7209 (CR coils),7225(Electrical sheets),7210/7212(GP/GC) reported a downfall of 5%,M-o-M basis in Sep'17 and stood at 0.8 MnT in contrast to 0.84 MnT in Aug'17.
On Y-o-Y basis, South Korea flat steel imports moved down drastically by 28% in Sep'17 against Sep'16. In Sep'16 the same stood at 1.12 MnT.
In the tenure of nine month of CY17 (Jan-Sep) country has imported 7.97 MnT down by 9% against 8.75 MnT in similar time frame of previous year.
Commodity-wise South Korea Flat Steel imports in Sep'17
| Sub Commodity | Sep'17 | Aug'17 | M-o-M (change in %) | Sep'16 | Y-o-Y (change in %) |
| HRC/Plate | 0.44 | 0.47 | -6.8 | 0.68 | -35.2 |
| Galvanised Steel | 0.15 | 0.18 | -20 | 0.19 | -21.05 |
| Electrical Steel | 0.14 | 0.13 | 7.14 | 0.16 | -12.5 |
| CRC | 0.06 | 0.05 | 16.6 | 0.08 | -25 |
| Others | 0 | 0.01 | 0 | 0.01 | 0 |
| Grand Total | 0.79 | 0.84 | -5 | 1.12 | -2 |
Quantity in MnT
Source-SteelMint Research
China remained the largest exporter in Sep'17-China remained the largest flat steel exporter to South Korea and contributed for share of 63% in flat steel imports in Sep'17.Other major countries include Japan procured 31.62% of share followed by Taiwan at 3.01%
In the month of Sep'17 South Korea imported 0.45 MnT of flat steel down by 10% against 0.50 MnT in Aug'17.However in Aug'17 Japan stood at 0.29 MnT while Taiwan at 0.05 MnT.
