South Korea Billet Imports Plunge 30% in H1 CY18
Mining News Pro - Billet imports to South Korea reported a decline of 30% in H1 CY18 as against H1 CY17.
As per custom data maintained by SteelMint stats, South Korea billet import during Jan-Jun`18 (H1) is about 0.98 MnT; down by 29.59% as against 1.27 MnT in Jan-Jun`17 (H1).
In the month of Jun’18, Billet imports fall slightly by 5% M-o-M & stood at 0.20 MnT as against 0.21 MnT in May’18. Japan remains the largest billet exporter and registered around 40% i.e; 0.08 MnT & remaining proportionate is being exported by Brazil, Indonesia & South Africa.
On yearly basis in Jun’18, imports of billet to the nation decline by 16.66% against 0.24 MnT in Jun`17.
In the first 6 months of 2018 – Japan, Brazil & Indonesia was the major billet exporter to South Korea which exported about 0.53 MnT (54.30%), 0.18 MnT (18.74%) & 0.17 MnT (17.10%), respectively.
Prior to this, in CY17, the country’s billet import was around 2.06 MnT & in CY16 at 2.80 MnT.
As per the SteelMint analysis, in Jan-May’18 , the crude steel production of South Korea was around 29.94 MnT, surge by 4% Y-o-Y against 28.88 MnT in the same period last year.
In context to export prices, the global offers of 150*150 IS 2830 grade billet are currently at USD 500-515/MT FoB India & 125*125 3sp at USD 495-505/MT FoB Ukraine.
Top Load Country of H1 2018 & H1 2017
|
Name |
H1 CY18 |
H1 CY17 |
|
Japan |
0.53 |
0.57 |
|
Brazil |
0.18 |
0.21 |
|
Indonesia |
0.16 |
0.26 |
|
Taiwan |
0.04 |
0.08 |
|
Russia |
0.03 |
0.05 |
|
Iran |
0.02 |
0.01 |
|
China |
0.01 |
0.10 |
|
South Africa |
0.01 |
0.00 |