South Korea Billet Imports Climb 85% in Jan'19
South Korea- world's 5th largest steel producers has imported about 0.26 MnT Billet in Jan'19 as against 0.14 MnT in Dec'18, significantly jump by 85% M-o-M, as per custom data maintained by SteelMint.
Further on yearly premises, Billet imports was surge by 53% as compared to 0.17 MnT in Jan'18.
Brazil was the largest Billet exporter to South Korea during Jan'19 with a contribution of 0.13 MnT (48.56%), followed by Japan 0.05 (18.10%) Mexico 0.04 MnT (17.17%) & Indonesia 0.03 MnT (11.60%).
Prior to this in CY18 (Jan-Dec), the country’s Billet imports was at around 1.89 MnT which was slump by 9% as against 2.06 MnT during CY17 (Jan-Dec).
Exports:
South Korea has exported about 0.04 MnT Billet in Jan'19, which is down by 20% as against 0.05 MnT in Dec'18. However on Y-o-Y basis, Billet exports remains unchanged in Dec'18 as compared to Jan'18.
During Jan-Dec'18, the country's total Billet exports stood at 0.68 MnT, fall by 24% than the 0.9 MnT in Jan-Dec'17.
Updates:
-- The global offers of 150*150 IS 2830 grade Billet are currently hovering at USD 425-435/MT FoB India & 150*150 Q235 at USD 440-450/MT FoB China.
-- As per the SteelMint analysis, South Korea's crude steel production moved up marginally by 2% during Jan-Dec'18 to 72.5 MnT as compared with 71 MnT in Jan-Dec’17.
-- Indian Iron ore & Pellet exports to the South Korea rise by 82% in Jan'19 to 0.2 MnT as against 0.11 MnT in Dec’18.
source: SteelMint
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