South Korea's import and export of electro-galvanized steel in September increased year-on-year

According to data released recently by the Korea Iron andSteel Association, in September, South Korea's electro-galvanized steel sheet(EGI) exports were 76,400 tons, up 2.6% year-on-year; imports were 16,600 tons,up 0.8% year-on-year. In the first three quarters, the total export volume ofEGI in Korea was 659,700 tons, an increase of 10.4% year-on-year; the totalimport volume was 165,200 tons, an increase of 19.3%.

South Korean industry insiders believe that the growth of EGIexports is the result of South Korea's export expansion strategy. South Koreahas placed its export expansion strategy at the top of the list due to weakdomestic demand. However, considering that South Korea’s export quota to theUnited States is about to “top” in 2018, it is expected that in October andNovember, South Korea’s EGI exports will decrease.