Posted on 18 Mar 2016
The Korea Iron and Steel Association announced on March 16 that South Korea imported 1.776 million tons of steel products last month, 10.9% more than a year ago. The rate of year-on-year increase was the highest since August 2015, when the imports had increased by 13.8%.
The steel product imports rebounded in December last year and edged down 0.1% in the following month after having declined for three months in a row. In February this year, the imports from China, which account for 58.6% of the total, increased 15.2% to 1.041 million tons while the imports from Japan fell 3% to 552,000 tons.
By item, the hot-rolled steel plate imports from Japan and China rose by 42.2% and 12.7% to 264,000 tons and 241,000 tons, respectively. The latter continued to increase, causing the total hot-rolled steel plate imports to show an increase of 29.1% to 524,000 tons. In the meantime, the medium and thick plate imports from China rose by 4.3% to 147,000 tons whereas those from Japan fell by 16.1% to 52,000 tons with the total medium and thick plate imports decreasing 0.5% from a year ago.
The association explained that South Korean steelmakers increased their imports for a larger inventory ahead of the upcoming peak season.
he Korea Iron and Steel Association announced on March 16 that South Korea imported 1.776 million tons of steel products last month, 10.9% more than a year ago. The rate of year-on-year increase was the highest since August 2015, when the imports had increased by 13.8%.
The steel product imports rebounded in December last year and edged down 0.1% in the following month after having declined for three months in a row. In February this year, the imports from China, which account for 58.6% of the total, increased 15.2% to 1.041 million tons while the imports from Japan fell 3% to 552,000 tons.
By item, the hot-rolled steel plate imports from Japan and China rose by 42.2% and 12.7% to 264,000 tons and 241,000 tons, respectively. The latter continued to increase, causing the total hot-rolled steel plate imports to show an increase of 29.1% to 524,000 tons. In the meantime, the medium and thick plate imports from China rose by 4.3% to 147,000 tons whereas those from Japan fell by 16.1% to 52,000 tons with the total medium and thick plate imports decreasing 0.5% from a year ago.
The association explained that South Korean steelmakers increased their imports for a larger inventory ahead of the upcoming peak season.
- See more at: http://www.businesskorea.co.kr/english/news/industry/14126-increase-steel-import-south-korea%E2%80%99s-steel-product-imports-increased-109-last#sthash.PcR2Wp8L.dpuf
