Steel Trade Update
South Korean steel exports climbed to 2.8 Mt in September, up by 0.2 Mt year-on-year and the eleventh consecutive month shipments have increased on an annual basis, the Korean steel producers’ association reports. As a result, exports in the first nine months of the year were up by 1.9 Mt at 24.2 Mt.
Meanwhile, EU steel exports edged slightly higher year-on-year in August to 1.9 Mt, according to Eurofer. However, weaker shipments earlier in the year meant exports in January-August were still down by 1.1 Mt on the same period in 2016 at 14.7 Mt.
The US exported 6.7 Mt of steel scrap in the 1h17, up by 0.8 Mt year-on-year. The US Geological Survey reports Turkey remained the primary destination for US scrap with 1.3 Mt shipped in January-June.