Due to the increasing demand for lightweight automotive aluminum, imports of aluminum rolling products in South Korea are increasing
Last week's industry data showed that due to less working days in October, car sales in South Korea's domestic market decreased. In October, five car companies including KIA, Samsung, Hyundai, Reynolds, Ssangyong Korea general, sales of 112729, compared with the same period last year dropped 11%. Light truck is the main application area of automobile aluminum sheet, and its sales volume also has a steady growth, which will affect the production of Korean light vehicles, thus further affecting the import of aluminum rolling products in korea.
International trade data show that the import of aluminum sheets, plates and strips has continued to grow since 2014. The import volume in 2014 was 76971 tons, and it increased to 211411 tons in 2016; it is estimated that if the macroeconomic situation is better, the import volume will reach 290909 tons in 2017, and the total import value will reach 1 billion 10 million US dollars.
The light industry in Korea needs to consume a large amount of aluminum sheet and aluminum plate every year; in 2017, the light vehicle industry in South Korea developed better, and the sales volume in the first two months of the year has increased significantly. However, due to the low economic growth in Korea and the turbulent political situation in the country, the number of Korean light car sales will decrease year on year in 2017.
The import of aluminum rolling products in Korea is closely related to the production of light vehicles, and the expected rate of imports of rolled products will increase at medium speed.