Korea’s import of stainless Hot Rolled posted a total of 75,854 metric tons last year from Indonesia, principally shipped by China-invested stainless mill, Tsingshan Holding Group which operates 3.0 million tons capacity per year Tsingshan’s stainless steel production capacity is known to share 6 percent of the global capacity. China’s Delong Holdings also plans to come on stream its Indonesia-based stainless plant next year.
Korea’s stainless steel Hot Rolled import from Indonesia began increase from May last year, as the Chinese Tingshan Steel came on stream, resulting in 14,929 metric tons in August, exceeding 10,000 tons level firstly though stayed at 6,000~7,000 tons per month before. In September last year, the import tonnage hesitated around 5,964 metric tons, but it exceeded ten thousand tons levels over the three months streak, beginning October through December, to 11,940 metric tons, 11,874 metric tons and 10,865 metric tons respectively.
All in all, Korea’s import of stainless HR from Indonesia recorded 75,854 metric tons last year, while Korea’s yearly import of stainless HR totaled 523,626 metric tons, down 1.4 percent from 531,106 metric tons in 2017. Besides, Korea’s total stainless HR import was 35,360 metric tons in December alone, down 20.7 percent month to month, or 17.2 percent year to year.
Meanwhile, POSCO has already announced to expand the offering of counter import materials, POSCO304GS, which was developed in H2-2018 through lowering the sales price to the level enough to match with low-prices stainless steel imports from Indonesia.
Source: Steel&Metal News |
