South Korea: GI sheets sales dip, exports up in CY'21

South Korean domestic sales of hot-dipped galvanised steel sheets (GI) were the lowest in the fourth quarter. Domestic sales dipped 1.4% in CY'21 while exports inched up by 8.3% annually, according to the Korea Steel Association.

Production

The total output of hot-dipped galvanised steel sheets in Dec'21 was at 0.66 mnt, up marginally by 0.9% m-o-m.

Meanwhile, production of the material in CY'21 stood at 7.66 mnt, up 6.1% y-o-y.

Sales

Gl sales in Dec'21 were the lowest in the fourth quarter, with both domestic and overseas sales showing a low trend. Domestic sales of hot-dip galvanised steel sheets decreased by 12.6 % from the same month of the previous year to 0.35 mnt, while overseas sales increased 9.3% to 0.25 mnt.

Considering that an average of 0.25 mnt were exported in Dec'21, overseas sales in this month were showed a smooth flow. Regions where Gl overseas sales increased were China (18,866 t, up 15.7% from the previous year), Southeast Asia (12,825 t, up 2.5% from the previous year) , Europe (45,427 t, up 92.5% from the previous year), and Turkey (19,433 t, 105.1% compared to the previous year).

In CY'21, domestic sales of GI dipped by 1.4% to 4.60 mnt, and overseas sales increased 8.3% to 2.973 mnt on an annual basis.

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