South Korea: MS wire exports drop 47%, imports surge in Jan-Oct

South Korea's exports of mild steel (MS) wires over Jan-Oct'21 have dropped a sharp 46.5% to 153,708 tonnes (t) compared to the corresponding period last year (CPLY). However, imports have more than tripled in this period to 325,420 t due to increased inflow from China and India, as per data from the Korea Steel Association.

Exports in the month of October rose 27% m-o-m to 17,059 tonnes but plummeted 17% compared to the same month of the previous year.

In imports, China was the main exporting country with 174,183 t, a 129% increase over CPLY. Exports from India to Korea comprised 17.5% of the total imports at 61,592 t. Imports from Indonesia were recorded at 33,389 t while volumes from Malaysia tripled to 33,389 t.