South Korea Flat Steel Imports Fell by 16% in CY17
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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) witness the decline of 16% in CY17.Nation has imported 9.98 MnT in CY17 in comparison to 11.86 MnT in CY16.
On yearly basis also ,South Korea flat steel imports moved down significantly by 29% in Dec'17 to 0.65 MnT which was 0.91 MnT in Dec'16.
Although on monthly basis nation nation's flat steel import volumes reported decline of 13% in Dec'17 against 0.75 MnT in Nov'17.
Commodity-wise South Korea Flat Steel imports
| Sub Commodity | Dec'17 | Nov'17 | M-o-M (change in %) | CY17 | CY16 | Y-o-Y (Change in %) |
| HRC/Plate | 0.40 | 0.42 | -5 | 5.5 | 7.05 | -22 |
| Galvanised Steel | 0.11 | 0.17 | -35.20 | 2.01 | 1.99 | 1 |
| Electrical Steel | 0.11 | 0.12 | -8.33 | 1.81 | 1.81 | 0 |
| CRC | 0.03 | 0.04 | -25 | 0.57 | 0.86 | -34 |
| Others | 0.00 | 0.00 | 0 | 0.09 | 0.14 | -36 |
| Grand Total | 0.65 | 0.75 | -13% | 9.98 | 11.85 | -16% |
Quantity in MnT
Source-SteelMint Research
Country-Wise South Korea Flat Steel Imports in CY 17- China continued to remain major flat steel exporter to South Korea and has procured 6.13 MnT of flat steel which accounts for 62% of share in CY17.
Other major countries include Japan which exported 32.95% (3.29 MnT) of share followed by Taiwan at 3.34% (0.33 MnT),Australia at 0.07 MnT (0.74%) and India at 0.02 MnT (0.24%) in CY17.
In the month of Dec'17 South Korea imported 0.33 MnT of flat steel from China which moved down by 20% against 0.41 MnT in Nov'17.
However in Dec'17 Japan stood as one of the major exporter which stood at 0.29 MnT followed by Taiwan at 0.02 MnT.
