Author: Paul Ploumis24 Oct 2014 Last updated at 02:40:05 GMT
SEOUL (Scrap Monster): According to latest data published by the Korean Iron and Steel Association (KOSA), the country’s imports of Hot Rolled Coils (HRC) rose sharply during the month of September this year.
Korea imported 492,000 tons of HRC in September. The Sep ’14 imports were 22% higher when compared with the HRC imports by the country during the previous month. The South Korean HRC imports during August ’14 had totaled 403,000 tons. The Sep ’14 imports were 48% higher when compared with the imports of 332,000 during September last year.
The main exporter of HRC to Korea during September this year was Japan. The HRC imports from Japan totaled 244,500 tons, constituting nearly 50% of the total HRC imports by Korea during the month. The imports from Japan surged higher by nearly 40% over the previous month and by nearly 36% over the previous year.
The cumulative HRC imports by Korea during the initial nine-month period of the year totaled 3.73 million tons. The imports were 7% higher when compared with the imports during the corresponding nine-month period in 2013.