South Korea steel export statistics in H1 CY '20

As per the data compiled by SteelMint, export volumes of finished-long, finished-flat and ferro-alloys fell in H1 CY '20, however, semi-finished export volumes increased in contrast to the volumes in H1 CY '19.

Semi-finished steel exports increased by a massive 108% to 4,10,971 t in H1 CY '20 in contrast with 197,894 t in the corresponding period of CY '19. In similar lines, the same increased by a whopping 148% y-o-y in Jun '20 to 90,482 t, while fell by 23% on a monthly basis.

Finished-long steel exports declined by 8% to 1,104,096 t in H1 on the year. On the year, the same fell by 30% to 146,057 t in Jun '20 against 207,726 t in Jun '19, however, was largely stable against 145,857 t in May '20.

Finished-flat steel exports aggregated to 11,082,421 t in H1, down by 9% compared to 12,124,934 t in the similar time frame of CY '19. In Jun '20, the exports stood at 1,959,241 t, largely stable on the year over 1,957,116 t in Jun '19, however, increased by 31% on the month against 1,494,222 t in May '20.

The country's exports to China rose consistently in the Apr-Jun '20 months as participants in the trade segment preferred importing rather than procuring domestically at higher prices. Exports to China stood at 1,943,009 t in H1, up by 21% as against 1,599,865 t in H1 CY '19.

However, exports to other top importing nations witnessed a fall in H1 with Japan at 1,130,598 t (down, 27%), India 887,492 t (down, 39%), USA 869,077 t (down, 16%), and Mexico at 661,588 t (down, 33%) as against H1 CY '19. Subdued demand in the above countries amid COVID-19 concerns since Apr '20 has been attributed to the decline in export volumes in H1.

Ferro-alloy exports declined by 16% to 80,325 t in H1 as against 95,543 t in the similar time frame of CY '19. In similar lines, in Jun '20, the same stood at 8,839 t, declining by 46% on the year against 16,252 t in Jun '19, and 18% on the month over 10,789 t in May '20.