South Korean steel pipe exports fell in August

In August, South Korean steel pipe exports were affected bythe sharp decline in US steel import quotas. Exports fell to 146,600 tons from247,900 tons in the same period last year, down 53.8% year-on-year.

In August, the export volume of Korean petroleum steel pipesdecreased from 80,200 tons in the same period of last year to 2,438 tons, down97% year-on-year; the export volume of pipeline steel dropped from 52,900 tonsto 23,200 tons, down 56% year-on-year; the output of spiral welded pipes from3274 The ton dropped to 1,403 tons; the output of straight seam welded pipedecreased from 37,500 tons to 35,700 tons; the export volume of rectangularpipe decreased from 8,198 tons to 1,620 tons.

Korean steel pipe manufacturers expect South Korea to resumeoil-specific pipe exports to the US market in the fourth quarter of this year,and its performance will pick up. According to a notice signed by US President Trump on August30, the United States will specifically relax import quota restrictions onKorean steel products.