South Korea: GI sheets production, sales increase m-o-m in Jan

South Korean steel manufacturers reported an increase in both production and sales of hot-dipped galvanised sheets (GI) in Jan'22 compared to the previous month.

Production of hot-dipped galvanised steel sheets in Jan'22 was registered at 696,000 tonnes (t), up 11.8% m-o-m and sales volumes were recorded at 663,000 t, higher by 16.1% m-o-m, according to the Korea Steel Association.

Domestic sales, exports increase

The beginning of this year showed a smooth start compared to the monthly average domestic GI sales of 628,000 t in Q4CY'21.

Domestic sales of hot-dipped galvanised steel sheets increased 16.6% m-o-m to 371,000 t in Jan'22 while overseas sales upped by 15.4% to 292,000 t.

Country-wise exports

South Korea's GI exports to other countries increased y-o-y. Shipments to the Middle East were up by 88.4% to 6,476 t, Europe by 57.6% to 51,760 t, South America by 313.9% to 4,321 t, and Africa by 464% to 4,072 t.

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