Korea's channel exports and imports both decreased in January from a year ago. Exports slippage was mainly contributed by a sharp drop of shipments headed to Australia, while imports decline was led by reduced entries from both Japan and China. According to Korea Iron and Steel Association, Korea’s channel export in January totaled 6,354 metric tons, 73.9 percent higher than the previous month, but down 35.4 percent a year ago.
Exports to Canada surged from a year ago, but shipment to Australia slipped contributing to the overall decrease in channel exports.
In January, channel import marked 5337 metric tons, down 21.1 percent a year ago, or 24.9 percent from the prior month. Import from Japan decreased 22 percent a year ago, or down 4.9 percent from a month ago, totaling 3,201 metric tons while import from China down 22.3 percent month on month, or 39.3 percent year to year, respectively, leading to 2,025 metric tons.
Channel price of import per ton weakened, the statistics notched. The average import unit price of channel was $594 per ton in January, down $12 from the preceding month. The unit import price of Chinese material averaged $521 per ton, down $18 from December last year of $539 per ton. But Japanese import price heightened $8 per ton to $621 per ton during January.
Source: Steel&Metal News |
