South Korea's stainless steel plate imports down about 17% year-on-year in mid-August

en.Wedoany.com Reported - According to provisional customs clearance data from South Korea, stainless steel plate imports from August 1 to 17 fell about 17% year-on-year, with hot-rolled and cold-rolled products seeing similar declines. Combined imports of the two product categories totaled 17,552 tons, down 16.7% from 21,063 tons in the same period last year.

Hot-rolled stainless steel imports stood at 7,543 tons, down 16.7% year-on-year from 9,055 tons a year earlier. Japan remained the largest supply source, with imports of 3,230 tons, up 7.7% year-on-year; China supplied 1,702 tons, down 26.8%; Indonesia shipped 1,359 tons, up 30% from 1,045 tons in the same period last year. Hot-rolled imports from Taiwan fell sharply by 64% to 885 tons, while European shipments rose from 122 tons to 309 tons, though the absolute volume remained relatively small. The average import price for hot-rolled stainless steel was approximately $1,896 per ton, largely flat compared with $1,885 per ton in the same period last year.

Total cold-rolled stainless steel imports reached 10,009 tons, down 16.6% year-on-year. China remained the largest supplier, shipping 5,896 tons to South Korea, accounting for about 59% of total cold-rolled imports, up slightly by 2.1% year-on-year and essentially holding the previous year's level. Cold-rolled imports from Indonesia fell to 322 tons from 2,730 tons in the same period last year, a decline of 88.2%; imports from Taiwan dropped 38.7% to 1,606 tons. Shipments from Malaysia increased to 717 tons, India rose from 224 tons to 689 tons, and Japan grew from 160 tons to 574 tons.

Preliminary customs data through mid-August indicate an overall weakening in South Korea's stainless steel imports, with both hot-rolled and cold-rolled shipments down about 17% year-on-year. The sharp contraction in shipments from Indonesia was a key factor dragging down overall import volumes, while cold-rolled supply from China remained resilient. Market participants are expected to monitor customs clearance data through the end of August, particularly shipments from Indonesia, Taiwan, and Malaysia, to assess whether the current downward trend in imports will persist.