According to data published by the Korea Iron and Steel Association (KOSA), the total amount of steel import and export reaches 37.99 million tons, value to 3.889 billion dollars from Jan. to Oct. in 2007. Of this total, the amount of exports is 15.964 million tons with a value of 18.21 billion dollars, up 5.6% and 21.6% respectively. The amount of imports is 22.026 million tons with a value of 20.68 billion dollars, an increase of 18.5% and 30.4% respectively. The trade deficit is 2.47 billion dollars, up 181.9% over the same period of last year.
The export of shaped steel and steel tubes has maintained good momentum, but the export of thick board declines sharply with 20.3% while its import up to 3.673 million tons, up 18% over the same period of last year. The situation is caused by the strong expanding of shipbuilding industry. It is estimated that thick board for shipbuilding will short 5.7 million tons in 2009.
