South Korea Billet Imports Rise 20% in October

South Korea has imported about 0.18 MnT Billet in Oct'18 as against 0.15 MnT in Sep'18, increased by 20% M-o-M, as per custom data maintained by SteelMint.

Further on yearly premises, Billet imports was surge by 50% as compared to 0.12 MnT in Oct'17.

However on a cumulative basis (Jan-Oct'18), Billet imports in South Korea has reported slump of about 12% and stood at around 1.62 MnT, which was about 1.85 MnT in the same period last year.

Japan remains the largest Billet exporter to South Korea during Jan-Oct'18 period with a contribution of 0.83 MnT (51.66%), followed by Indonesia 0.37 MnT (23.28%) & Brazil 0.20 MnT (12.76%).

Prior to this in CY17 (Jan-Dec), the country’s Billet imports was at around 2.04 MnT.

Exports:

South Korea has exported about 0.04 MnT Billet in Oct'18, which is down by 20% as against 0.05 MnT in Sep'18. Similarly on Y-o-Y basis, Billet exports fall by 60% in Oct'18 as compared to 0.10 MnT in Oct'17.

During Jan-Oct'18, the country's total Billet exports stood at 0.57 MnT, fall by 14% than the 0.66 MnT in Jan-Oct'17.

As per the SteelMint analysis, South Korea's crude steel production move up marginally by 2% during Jan-Oct'18 to 60.36 MnT which was about 59.09 MnT in Jan-Sep’17. Further on monthly premises, the production incline by 6% and stood at 6.19 MnT in Oct'18 as against 5.85 MnT in Sep'18

Updates:

-- The global offers of 150*150 IS 2830 grade Billet are currently hovering at USD 450-460/MT FoB India & 150*150 Q235 at USD 495-505/MT FoB China.

-- South Korea, world second largest ferrous scrap importer after Turkey seen marginally rise by 2% M-o-M and stood at 0.51 MnT in Oct'18 as against 0.50 MnT in Sep'18. However in Jan-Oct'18 the country's scrap imports was surge about 8% to 5.16 MnT as against 4.79 MnT during same period last year.

-- South Korea has imported about 0.22 MnT of Finish long steel in Oct'18, sharply rise by 57% M-o-M as against 0.14 MnT in Sep'18. However during Jan-Oct'18 it fell by 34% and stood at 1.73 MnT, which was about 2.64 MnT during Jan-Oct'17.

-- South Korea is the world's 3rd largest iron ore importer, has imported about 6.13 MnT iron ore, up 20% as against 5.09 MnT in Sep’18.