South Korean HRC imports from China up 18% in April: KOSA

SEOUL (Scrap Monster): In accordance with data provided by the Korea Iron and Steel Association (KOSA), the country’s imports of Chinese HRC rose significantly during the month of April. The imports during the initial four-month period of the year were also higher when compared with the previous year.

According to KOSA data, the HRC imports from China recorded 18% month-on-month growth during the month of April. The imports of Chinese HRC by the country during the initial four months of the year from January to April this year were 41% higher when compared with the imports during the corresponding four-month period in 2013. The heavy import was primarily on account of cheaper HRC prices during April. The average import price of Chinese HRC during April was $562 per ton, falling by $22 per ton from March import price.

On the other hand, the South Korean export of HRC products during the four-month period from Jan-Apr this year were up 2% upon comparison with last year. The HRC export by South Korea during the period totaled 1.46 million tons. The largest destination of South Korean HRC exports was Japan. The other major importers of South Korean HRC products were the US and Vietnam.