This year, the slab import surged in spite of the iron ore unit price of import continued the bullish market, in particular due to the pronounced increase from Japan. According to the Korea Iron and Steel Association, Korea’s slab import totaled 716,597 metric tons for January through May, which rose 46.3 percent compared to the same period last year.
Slab import tonnage from Indonesia surged as much as 165.2 percent from a year ago seen 110,741 tons to 293,679 tons from January through May. The import unit price of slab averaged $475 a ton, down $101, or 17.5 percent from a year ago traded $576 on average.
In particular, import from Indonesia accounted for those originated in Krakatau POSCO. The main reason of import growth was due largely to the highly risen need at the domestic consuming industries. It is said that the Krakatau POSCO-origin slab is used for distribution alone.
The import of slab which recorded largely arrived from Japan last year is known to decrease 31.8 percent for the first five months this year, totaling 171,282 tons. The unit price of import was more expensive by $20 to $495 a ton compared to that from Indonesia.
Korea’s slab export tonnage was 141,246 tons for January through May this year, which downed 34.5 percent from 215,550 tons to 74,000 tons around. Export tonnage headed Japan totaled 68,401 tons, and to Indonesia 30,066 tons each. The unit price of export shipped to Japan priced $503 a ton, while those destined for Indonesia traded $417 a ton.
Source: Steel&Metal News |
