In the January-November period of 2017, South Korea's exports of steel products to the US increased by 17.7 percent in value to $3.4 billion, while steel exports rose by 4.9 percent in volume, both compared to the same period of 2016, according to the statistics of the Korea International Trade Association (KITA).
According to KITA, the increase in the value of country’s steel exports to the US is mostly due to the rising OCTG prices and demand in the US oil and gas industry.
Meanwhile, South Korean news agency Yonhap stated that South Korea's steel export value in the first 11 months of 2017 showed double-digit growth despite the rising pressure from the US government to impose antidumping tariffs on steel imports under its Section 232 investigation, the result of which is expected to be announced by January 14 by the US Department of Commerce.