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South Korean Three Major Steel Enterprises' Steel Plate Exports Increased

Recently, South Korean three major steel enterprises, POSCO, Hyundai Steel and Dongkuk Steel, steel plate exports to Japan and India significantly increased, with South Korean domestic sales continued downturn, this is undoubtedly exciting. From January to May in 2017, the domestic shipments of the South Korean steel plate were 241 million tons, down 24.7% year on year. The export volume was 1.353 million tons, up 21.2% year on year, of which 254,000 tons were exported in May, up 21.3% year on year.

steel plate

Japanese trade statistics show that from January to May, Japanese steel plate imports amounted to 315,000 tons, up 51% year on year. Among them, the import of 78,000 tons in May, an increase of 62% year on year, mainly due to the NIPPONSTEEL&SUMITOMOMETAL live large factory fire caused thick steel plate production line suspended, while the same period in Japan ship construction orders increased. According to the Japan Shipbuilding Export Association (JSEA) statistics, in June 2017 orders for the 1.01 million gross tonnage, an increase of 520% year on year, of which 81,000 tons of bulk ship, 20.8 million tons of oil tanker.

It is worth mentioning that the supply of three steel plate enterprises in South Korea export to Japan accounted for more than 90% of Japanese total plate imports. From January to May, the total exports ofPOSCO, Hyundai Steel and Dongkuk Steel steel plate to Japan were 288,000 tonnes, up 68.3% year on year, accounting for 91.5% of Japanese total plate imports. And only in May, South Korea's three steel plate production enterprises' steel plates to Japan were 5.4 million tons, an increase of 44.8%.

January-May, South Korean steel plate exports to India 128,000 tons, an increase of 225.7% year on year; which in May exports to India, 37,000 tons, an increase of 207.1% year on year. In addition, South Korea have a more substantial increase in steel plate exports to Belgium, Germany, Saudi Arabia and other countries.