South Korea: GI production, sales fall m-o-m in Feb'22

South Korea's hot-dip galvanised steel sheet (GI) production was recorded at 608,204 tonnes (t) in Feb'22, down 12.5% m-o-m while sales volume was registered at 597,286 t, lower by 9.9% m-o-m, according to the Korea Steel Association.

In February, domestic GI sales were at 336,302 t, down 2% m-o-m and overseas sales were at 333,984 t, down 19.8% m-o-m.

Country-wise GI sales

In Feb'22, GI sales to China (19,116 t), Southwest Asia (14,093 t), Africa (5,288 t), and Oceania (2,379 t) increased. On the other hand, the same saw a decrease to Japan (19,266 t), Southeast Asia (10,335 t), Europe (33,354 t), and North America (2,363 t).

GI sales decline in Jan-Feb'22

Hot-dip galvanised steel sheet production during Jan-Feb'22 reached 1.03 mnt, up 1.4% y-o-y, while sales volume decreased by 2% to 1.26 mnt of which domestic sales were recorded at 734,265 t and overseas sales were at 525,945 t.

Note: This insight has been published in accordance with an article exchange agreement between SteelMint and SteelDaily.