|In January, Korea’s heavy plate exports boosted to attract eyes compared with the prior month, due largely to the expanded shipment headed to Japan, Vietnam and the US markets. According to the Korea Iron and Steel Association, Korea’s heavy plate exports amounted to 268,716 metric tons, hiking as much as 28.9 percent from the prior month. The export level was much higher considering an average of monthly export in the second half last year posted the level of 180,000~240,000 metric tons.
The export increase tendency at this time of the year is the phenomenon of repetition, the industry people commented. For instance, in January 2017, the export of plate was 282,933 metric tons, and in January last year also the export tonnage was 287,848 metric tons, which were higher than the usual months that same year, they added.
Meanwhile, the January import of heavy plate turned out to have accounted for an increase of 83.5 percent, compared to the same month last year registered 95,588 metric tons, seemingly owing to the increase of order intakes from the domestic recovering shipbuilding sector. The monthly import quantities have been sustaining steadily around 170,000 tons since October last year. Of import, the level from Japan caught eyes, increasing from 51,955 metric tons in July last year to 94,668 metric tons in January this year. Heavy plate import from China on the contrary decreased 13.6 percent from the prior month of 78,959 metric tons to 68,182 metric tons in January this year.
Source: Steel&Metal News