South Korea: Ferrous Scrap Imports Down 17% M-o-M in Jul’17

South Korea is world’s 3rd largest importer of ferrous scrap after Turkey and India. It imported 5.64 MnT ferrous scrap in CY16. As per recent released customs data, the country has witnessed 17 % M-o-M fall in its imports in Jul’17.

South Korea imported 0.40 MnT ferrous scrap in Jul’17 against 0.48 MnT imports in Jun’17.On yearly comparison, Imports were down 13% Y-o-Y as imports was 0.46 MnT in Jul’16.

During period of seven months (Jan-Jul’17) in CY17, South Korea’s ferrous scrap imports summed up to 3.31 MnT up by 4%, as ferrous scrap imports amounted to 3.19 MnT during the same period in last year (i.e. Jan-July’16).

Japan continues to remain the largest ferrous scrap supplier to South Korea -

Japan continued to hold the leading share of ferrous scrap imports to South Korea. During Jan-Jul’17 Japan exported 2.21 MnT ferrous scrap to South Korea occupying 67 % share in total imports so far in CY17. while, Japan supplied 0.27 MnT ferrous scrap to South Korea in Jul’17.

Russia’s share in South Korea scrap imports was 17 % (0.57 MnT) followed by United States 8.5 % (0.28 MnT) during Jan-Jul’17.

Russia remained the 2nd major exporter of ferrous scrap to South Korea at 0.09 MnT exports in Jul’17.

South Korea continued to import Chinese ferrous scrap in Jul’17-

China’s ferrous scrap exports to South Korea were nil during first four months in CY17 but consecutively in last 3 months China has been exporting 0.01 MnT ferrous scrap to South Korea during May-Jul’17 respectively.

Quantity In MnT;
Source: SteelMint Stats.