In February, Korea’s hot rolled sheet exports destined to Taiwan surged, but import from Japan decreased on the contrary. According to Korea Iron and Steel Association, Korean export demand for hot rolled sheet and strips posted around 254,000 tons, a 12.8 percent month to month rise, or about 7.4 percent down a year ago.
Export to major destinations like Vietnam, Indonesia and the US decreased, while shipment headed to Taiwan was supportive to the dilution of the slippage pace. Korea’s hot rolled sheet and strip exports to Taiwan totaled about 38,000 tons last year, and the export tonnage for February this year accounted for about 73 percent of the annualized export last year.
Last year, the export price averaged $630 per ton as far as the shipment headed to Taiwan. The export unit price this February recorded $535 on average, $95 cheaper than a year earlier figure. The slippage in the export price seemed to reflect on some of import tonnage this year.
In February, Korea’s hot rolled sheet and strip imports totaled about 202,000 tons, down 17.7 percent month on month, or down 27.2 percent year on year, while major import sources like Japan, China and Taiwan posted decrease. In particular, import from Japan was decreased sharply to 93,000 tons around. Import from Japan down to below 100,000 tons a month was the first time in five months absence since September last year. From October 2018 through January this year approached little better than 170,000 tons monthly. On the collective basis through February, the export improved more than 10 percent a year ago, while import decreased not less than over 20 percent.
Source: Steel&Metal News |
