South Korea: Stone-plated steel sheet exports rise, y-o-y, in July

South Korea's stone-plated steel sheet exports increased by 14% y-o-y to 28,671 t in July 2022 against 25,145 t in July 2021. On monthly basis, the same rose by 5% as compared with 27,270 t in June 2022, as per data from the Korea Steel Association. The delay in recovery of domestic demand and appreciation of $ have led to the increase in export volumes.

However, cumulative exports fell by 3% y-o-y to 199,184 t in January-July 2022 as against 205,407 t in the corresponding period last year.

Imports plunge y-o-y in July

Imports of stone-plated steel sheets plunged by 43% y-o-y to 2,711 t in July 2022, in contrast with 4,770 t in July 2021. However, import volumes rose by 12% m-o-m against 2,430 t seen in June 2022.

During January-July period, imports declined by 28% y-o-y to 16,246 t, against 22,625 t in the same period year ago.

Outlook

Market participants anticipate that exports and imports will remain slow amid concerns related to global economic recession and delayed demand recovery from industries.

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