China is the leading steel exporter to S. Korea

SteelOrbis Shanghai According to the latest figures from South Korea Steel Association, China's iron and steel exports to South Korea rapidly increased in 2005, while China's imports from South Korea dropped considerably. China's exports to South Korea climbed 49.4 percent to 6.46 million metric tons from 4.32 million metric tons in 2004, accounting for the largest stake in exports to South Korea. On the other hand, China's imports from South Korea fell 24.2 percent to 3.76 million metric tons from 4.97 million metric tons in 2004. The trade deficit between the two countries narrowed to $116 million from $2.59 billion in 2003 and $2.16 billion in 2004, but is still existed because most products China exported are common steel, while those imported from South Korea are high grade steel.