South Korea: Steel Import Statistics August 2019

South Korea's import of raw materials (Iron ore & coal) surged, while finished steel imports marked down fall in Aug'19, as per the custom data maintained with SteelMint.

Iron ore- South Korea iron ore imports in Aug'19 recorded at 7.05 MnT up 4.13% against 6.77 MnT in July'19. On yearly basis, exports fell slightly as compared to 7.13 MnT in Aug'18.

South Korean imports from Australia marked highest for the month at 4.81 MnT, down 3.6% against 4.99 MnT in July'19. Meanwhile imports from Brazil picked up to 1.25 MnT (up 29% M-o-M) amid easing supply from Vale, followed by Canada at 0.45 MnT. Imports recorded significant increase from South Africa and India at 0.34 MnT and 0.13 MnT, respectively during Aug'19.

South Korea crude steel production up slightly in July'19.
South Korea crude steel production picked up to 6.04 MnT in Jul'19 as against 5.96 MnT in last month. On yearly basis, output fell slightly as compared to 6.17 MnT in July'18.

Coal- South Korean coal imports have continued its rising trend during Aug'19, as coal volumes were benefitted from an easing of coal-fired plant restrictions for the peak summer cooling period and an increased intake of coking coal.

Data provided by custom indicated that the country has imported 13.56 MnT coal in Aug'19, up 4.7% in the month from 12.95 MnT in Jul'19, which was also 1% higher on the year from 13.42 MnT in Aug'18.

The month of August had witnessed South Korea attaining its highest receipt of coking coal since Apr'15.

However, despite the uptick seen in recent months, various measures implemented by the Korean government to reduce its reliance on coal power, has drastically lowered the country's import volumes in CY19.

During the first 8 months of CY19 (Jan-Aug'19), South Korean coal imports have fallen 7% Y-o-Y to 93.86 MnT compared with 100.49 MnT noted in Jan-Aug'18.

Ferrous Scrap-The country's ferrous scrap imports have fallen by 28% M-o-M to 0.38 MnT in Aug'19 as against 0.53 MnT scrap imported in Jul'19. Meanwhile, on a yearly basis, Imports have decreased by 28% Y-o-Y from 0.53 MnT reported in Aug'18.

Country wise- Japan remains the largest supplier to South Korea as it supplied 0.27 MnT in Aug'19 down by 6% M-o-M as against 0.29 MnT supplied in July'19. Russia stood at second position as it supplied 0.08 MnT up by 33% M-o-M as against 0.06 MnT scrap reported in July'19. Followed another prominent supplier, United States which supplied 0.02 MnT in Aug'19 down by 81% M-o-M as against 0.11 MnT in Jul'19.

Semi Finish- On monthly basis country's semi-finish(Billet/Pig iron) import is registered at 0.14 MnT in Aug'19 which remained stable against the previous month. But on yearly premises country's semi-finish import increased by 22.22% in Aug'19 as compared to 0.18 MnT in Aug'18.

Finish Long Steel- South Korea finish long steel imports M-o-M is registered at 0.18 MnT in Aug'19 which has been shrunk by 18.18% against 0.22 MnT in July'19.

However on yearly premises the country's import of long steel is surged by 20% in Aug'19 against 0.15 MnT in Aug'18.

Commodity wise- Re-bar imports of South Korea in Aug'19 is 0.10 MnT down 16.66% as against 0.12 MnT in Jul'19, followed by Structure(Angle,Channel) and Wire rod imports is 0.07 MnT and 0.02 MnT respectively in Aug'19 which remained stable against previous month.

Country wise- China stood as top exporter of finish long steel to South Korea and registered at 0.08 MnT in Aug'19, down 20% as against 0.10 MnT in Jul'19, export from Japan dropped by 14.28% to 0.06 MnT in Aug'19 than the 0.07 MnT in Jul'19 and Vietnam 0.02 MnT in Aug'19 that remained stable against previous month.

Finish Flat Steel imported by nation on monthly basis is recorded at 0.67 MnT in Aug'19 plunged 8.21% as against 0.73 MnT in Jul'19. In line on yearly premises import marginally up by 3.07% in Aug'19 as compared to 0.65 MnT in Aug'18.

Finish Flat Stainless Steel imports by South Korea on monthly basis is registered at 0.06 MnT in Aug'19 decline 14.28% as against 0.07 MnT in Jul'19. In line on yearly basis also it declined by 25% in Aug'19 than the 0.08 MnT in Aug'18.

Ferro Alloy- South Korean ferro alloy import on monthly basis is 0.09 MnT in Aug'19 up 28.57% as against 0.07 MnT in July'19. Also on yearly basis the country's ferro alloy import is surged by 12.5% in Aug'19 as against 0.08 MnT in Aug'18.

Graphite Electrode- On monthly basis, South Korea's Graphite Electrode import is down by 5.8% to 3,194 MT in Aug'19 than the 3,392 MT in Jul'19 and on yearly basis imports plunged by 13.9% in Aug'19 as against 3,711 MT in Aug'18.