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.