South Korea: Iron Ore Import Falls 4% M-o-M in July

South Korea, the third-largest iron ore importer after China and Japan, imported 6.11 MnT iron ore in Jul’17, according to the trade data released by South Korean Customs.

Iron ore imports have witnessed a fall of 4% M-o-M as it was 6.33 MnT in Jun’17. Similarly the country’s iron ore imports grew by 6% Y-o-Y as it was 5.79 MnT in Jul’16.

During the first 7 months of 2017, the country imported 40.78 MnT iron ore, up by 2% Y-o-Y as it was 40.05 MnT in the same consecutive period last year.

The non-agglomerated iron ore (lumps and fines) import in Jul’17 was registered at 5.86 MnT, down 1% M-o-M. The agglomerated ore (pellets and concentrates) import was registered at 0.25 MnT, down 40% M-o-M.

Australia accounted for 71% share in South Korea iron ore imports - So far in CY17 (i.e Jul’17) South Korea imported 40.78 MnT iron ore. Australia was the largest exporter in the mentioned time frame and contributed for 71% share. Other major suppliers were - Brazil, South Africa, Canada and India.

Qty in MnT
Provisional data
Source: SteelMint Stats