South Korean galvanized steel exports increased by 6.2% in July

According to data released recently by the Korea Iron andSteel Association, in July, South Korea's galvanized steel exports increased by6.2% year-on-year to 179,100 tons; imports fell by 27.4% year-on-year to 5.04million tons, but increased by 16.1%.

Classified by destination, in July, Japan was the largestexporter of galvanized steel sheets in Korea. South Korea exported 32,200 tonsof galvanized steel sheets to Japan, while exports to China and Mexico were20,800 tons and 18,700 tons, respectively. From thesource of imports, in July, South Korea imported 48,800 tons of galvanizedsteel from China and imported 1,212 tons of galvanized steel from Japan.

Korean industry insiders believe that the current reductionin imports of galvanized steel sheets in South Korea is related to China'shigher export prices and weak domestic demand in Korea. However, due to theupcoming steel demand season, the import of galvanized steel in Korea mayincrease.