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South Korea’s steel pipe exports to US drop, but to Canada increase

22 Sep 2022 15:15 reported by Stanley Wang

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According to data from Korea Iron and Steel Association (KOSA), in August, South Korean steel pipe exports to the US totaled about 76,000 tons, a month-on-month and year-on-year decrease of 14.8% and 10.6%, respectively.

Despite the domestic supply in the US being insufficient and international oil prices being high, the US demand for steel pips still increased stability. However, because of export quotas, it made South Korean companies face challenges in expanding their business.

On the contrary, the steel pipe exports from South Korea to Canada in the first eight months hiked by 131% to about 93,000 tons.

Because European countries were trying to reduce energy reliance on Russia, Canada increased its natural gas exports and kept expanding its infrastructure to deliver liquid natural gas to Europe.

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