SEOUL (Scrap Monster): South Korea's total cold rolled (CR) steel sheet exports advanced 9.2% year-on-year to 1,883,558 metric tons (mt) in January- July period of this year, as per the latest data released by the Korean Iron & Steel Association (KOSA).
Meanwhile, the country's CR sheet imports for the first seven months of the year declined 4.2% from a year ago to 528,577 mt.
Thus, South Korea's international trade of rolled steel sheet posted a surplus in the January-July period, indicating weak demand for the products in question in the domestic market.
In an attempt to make up for the drop in the domestic sales, domestic cold rolled steel sheet producers significantly increased their overseas sales during the given period.
Meanwhile, despite the decreasing import volume, cold rolled steel sheet imports extended a considerable impact on the domestic market.
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