South Korea: Scrap imports stay weak, key ports report limited activity

• Weak demand keeps import appetite subdued
  
  
• Southern regions may face tighter supply later
  
  

SteelDaily: Scrap import activity across major South Korean ports remained subdued in early May, with most major docks reporting limited or no cargo movement. Incheon North Port, primarily used by Hyundai Steel and Dongkuk Steel, reported no unloading or vessel arrivals, highlighting weak spot import activity.

Port-wise position

Dangjin Steelworks: Around 4,000 t reported unloading for Hyundai Steel

Gunsan Port: Approximately 10,000 t unloaded, mainly linked to SeAH Besteel

Pohang Port:About 4,238 t completed unloading declarations and preparing for discharge

Jinhae Port: Nearly 2,000 t completed unloading declarations ahead of cargo discharge

Import activity remained largely limited to long-term contract cargoes, with most electric furnace mills staying cautious on fresh bookings due to weak domestic demand and sufficient inventories, resulting in low vessel arrivals across key ports.

Meanwhile, the vessel Lucky Panda departed Jinhae Port on 2 May carrying 10,000 t of scrap. Although bound for Hong Kong, the cargo is likely to be redirected to Vietnam or other Southeast Asian markets after additional loading.

The slowdown in imports indicates balanced supply conditions in South Korea for now, though prolonged weak arrivals could tighten availability in southern regions.

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