Korea’s flat product sales volume improved slightly last year, but hot rolled and cold rolled sheet product scopes were the contrary each other. For instance, hot rolled product categories increased centering hot rolled and plate products assisted by large increase in the domestic demand, but cold rolled product categories saw almost scopes decreased in sales both domestic needs and export. In respect of their exports, plate and pre-coated sheets diminished by large, leading to the overall decline compared with a year ago.
According to the Korea Iron and Steel Association, Korea’s sales for flat product totaled 50,822,605 metric tons, up 1.3 percent a year ago, of which domestic consumption improved but export retreated. Domestic sales volume upped 3.4 percent from 28319,069 metric tons to 29,294,360 metric tons, but export demand dropped 1.4 percent to 21,528,245 metric tons respectively.
Most of cold rolled flat products saw an increase in sales volume thanks largely to the increased domestic shipment of hot rolled and plate both, through the overall slippage in the domestic consumption occurred. Plate needs at the domestic market for example recovered by large as much as 11.4 percent over a year earlier, despite exports down, contributing to the overall increase of 3.6 percent year on year. In case of Hot Rolled also, the sales marketing activities strengthened centering domestic market, while total sales at home improved 6.0 percent amid the impact of decreased import quantities.
Hot rolled flat product increased in the domestic consumption, while building up responses to the import surge, leading to the lowered import. As a result, the share of domestic product enhanced with plate in particular increased its market share as the ship plate demand recovered higher than initially expected.
In case of cold rolled flat product however sale decrease in the real sales volume as the leading consuming industries like automotive and home appliances showed sluggish. Galvanized steel sheet and pre-coated color sheet sales in particular experienced dampening demand. But tinplate needs at the domestic market surged last year, while other categories of collated flat products remained flattened. Meanwhile, the production of the whole flat product last year showed ups and downs dependent upon the market situations. For instance, the 2018 flat product output inched up 0.1 percent from 72812,677 metric tons to 72,857,813 metric tons, of which plate increased 6.7 percent; cold rolled up 1.6 percent, tinplate up 1,5 percent and other coated sheet up 8.2 percent respectively a year ago. However, the production figure accounting for hot rolled, electrical steel, galvanized sheet and pre-coated sheet decreased by 0.9 percent, 1.6 percent, 4.0 percent and 3.0 percent year on year respectively.
Source: Steel&Metal News
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