The global steel market continues to face uncertainty due to rising energy costs, carbon reduction policies, Chinese production adjustments, and US IRA subsidies. South Korea's steel exports are projected to reach approximately USD 34.5 billion (5.3% of total exports) in 2024, and the share of high-value-added special steel for shipbuilding, automobiles, and construction is steadily increasing. ( worldsteel.org )
Korean steel exports are divided into hot-rolled and cold-rolled steel plates, rebars, steel pipes, and special steel.
division | HS code examples | Representative items | Strategy Points |
|---|---|---|---|
| Hot-rolled and cold-rolled steel sheets | HS72.08~72.17 | Sheet metal for automobiles and steel plates for shipbuilding | High-strength products and competitive processing costs |
| Reinforcing bars and sections | HS72.13~72.16 | Reinforcing bars and H-beams for construction | Increasing demand for overseas infrastructure |
| steel pipes and tubes | HS73.04~73.06 | Line pipes and boiler tubes | Energy plant project linkage |
| special steel | HS72.22~72.29 | stainless steel and alloy steel | Focus on high-value-added markets such as automobiles and aviation |
Country/Region | Strong items | Market characteristics | Implications |
|---|---|---|---|
| USA | Automotive steel plates and pipes | IRA Subsidies and Anti-Dumping Risks | The need to expand local joint production |
| China and Hong Kong | Reinforcing bars and hot-rolled steel plates | Slowing domestic demand and intensifying price competition | Need for high value-added transition |
| Vietnam/ASEAN | Construction steel | Active infrastructure investment | Project Sustainability Demand |
| Japan and the EU | Special steel and sheet metal | Strict carbon reduction standards | Obtaining eco-friendly steel certification |
item | Number/estimate | unit | note |
|---|---|---|---|
| 2024 steel production | About 66 million tons | ton | 6th largest in the world |
| Exportable volume ratio | About 45 to 50% | % | Reflecting domestic demand (shipbuilding and construction) |
| Export amount (2024) | USD 34.5 billion | USD | KITA · Korea Customs Service Standards |
field | Main specifications | note |
|---|---|---|
| sheet metal | KS D 3506, JIS G 3101, EN 10025 | Application to automobiles and shipbuilding |
| steel pipes | API 5L, ASTM A53 | Plant and Energy Projects |
| special steel | ASTM A240, A276 | stainless steel and alloy steel |
division | Certification name | Applicable area |
|---|---|---|
| Quality and Safety | ISO 9001, ISO 14001 | Global |
| Product Standards | CE Marking, JIS, KS | EU/Asia |
| Energy efficiency | ISO 50001 | Eco-friendly steel certification |
Product group | means of transportation | Average lead time | Key Risks |
|---|---|---|---|
| Hot-rolled and cold-rolled steel sheets | Bulk carriers and containers | 15~35 days | Freight and port congestion |
| Reinforcing bars and sections | bulk carrier | 25~40 days | Fare/Weather |
| special steel | Containers and Aviation | 10~20 days | Beware of machining damage |
Product group | MOQ | unit | characteristic |
|---|---|---|---|
| Hot-rolled and cold-rolled steel sheets | 500 to 2,000 tons | ton | Bulk contract type |
| rebar | More than 1,000 tons | ton | Project unit |
| special steel | 100 tons or more | ton | High value-added, small quantity, multi-variety |
cord | item | example | conjugation |
|---|---|---|---|
| (A) | Unit price/transaction price range | Average USD 780-950/ton | Pricing strategy |
| (B) | seasonal patterns | Q2~Q3 Shipbuilding and Construction Peak | production plan |
| (C) | Tariff and non-tariff risks | US anti-dumping and EU CBAM | Export structure transformation |
| (D) | Domestic alternative industries | 50% of domestic demand for shipbuilding and construction | Judging the capacity |
| (E) | ESG · Net Zero | Transition to low-carbon high-altitude | Responding to the demand for green steel |
| (F) | Country-specific risk index | US 0.22, EU 0.25 | Market selection criteria |
| (G) | List of major buyers | ASEAN construction companies and global shipbuilders | Sales target |
segment | ΔExport(%) | ΔPrice(%) | ΔCountryShare(pp) | TrustIndex(0–1) | 3M Forecast |
|---|---|---|---|---|---|
| Hot-rolled and cold-rolled steel sheets | +1.5% | +0.8% | +0.2 pp | 0.74 | Continued demand for construction and automobiles |
| Reinforcing bars and sections | +0.6% | +0.3% | 0.0 pp | 0.70 | Stabilizing infrastructure demand |
| special steel | +2.4% | +1.2% | +0.3 pp | 0.79 | Increasing demand for eco-friendly special steel |
