|In May, Korea’s ordinary steel billet exports reduced, but import rose on the contrary. Export in particular cut by about 85 percent year to year. According to the Korea Iron and Steel Association, May export of carbon steel billet was 4,899 tons, higher as much as 98.7 percent over a month earlier, but collapsed 84.2 percent a year ago.
Export headed Japan was down 0.5 percent to 1,706 tons month to month, or 2.1 percent a year ago, while the production by April was cut by about 2.7 percent, but the export capacity was shortened as the sales volume of major long products like rebar rebounded.
In addition, the carbon steel billet import surged 37.8 percent from the prior month to 69,566 tons, while rocketing as much as 221.7 percent from a year ago, of which import from Japan increased 27.3 percent a year ago, or 6 percent a month ago totaling 27,220 tons. Import from Taiwan was 32,298 tons. Import rise seems related to the factor led to the factory stoppage in part, enduing import.
Meanwhile, the unit price of ordinary steel billet averaged $514 a ton in May, which was upgraded as much as $30 a ton from the preceding month. Import price per unit from Japan was $521 a ton, which was $33 higher per ton, and that from Taiwan posted $511 a ton on average.
Source: Steel&Metal News