This first half export of slab increased steeply most of which headed for China and Taiwan. According to the Korea Iron and Steel Association, ordinary steel slab export over the first half amassed 180,626 tons, improving 6.1 percent or 10,000 tons around from the same period last year of 170,307 tons.
Export to China was noticeable in particular. Export headed for China leaped to the tune of about 100 times the same period of the last year, 1,006 tons totaling 100,986 tons. Export unit price lowered by $20 per ton around seemingly attributed to the sharp increase. Slab export price was $357 per ton this year which was cut from the last year of $378 per ton. Fabricated plate export price toward China also contributed to the sharp increase of export as well.
However, slab export headed for Japan plummeted over the first half, down 54.6 percent from 89,335 tons to 40,584 tons. This decrease was apparently due to the inflated stock in Japan and Japanese mills’ lower export price than Korean. Korea’s export price was $421 per ton.
Also, export to Thailand which posted 30,000 tons in the first half last year turned out nil this year. Instead, export to Taiwan surged to 40,000 tons level which compared with just 10,000 tons around last year. The first half export price averaged $381 per ton. This was off 19.8 percent from the last year. During the second half this year, the slab price is expected to rise taking into account the risen iron or price and the slab upward price trends.
Source : Steel & Metal News
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