South Korea has witnessed decline in imports in Feb’18. It recorded imports at 5.26 MnT, down 15% as against 6.22 MnT in Jan’18. However, the Y-o-Y imports witnessed increase in Feb’18 by 19% as against 4.43 MnT in Feb’17.
During Jan-Feb’18, South Korea imported 11.48 MnT iron ore, up 9% as against 10.56 MnT during Jan-Feb’17.
Agglomerated iron ore (pellets and concentrate) imports were down by 68% M-o-M to 0.13 MnT in Feb’18 against 0.4 MnT in Jan’18. The Y-o-Y change depicted a decline of 74% as compared to 0.5 MnT in Feb’17.
A non-agglomerated iron ore (lumps & fines) imports witnessed decrease by 12% to 5.13 MnT in Feb’18 as against 5.83 MnT in Jan’18. The Y-o-Y imports in Feb’18 recorded 31% increase as against 3.93 MnT in Feb’17.
South Korea’s Iron Ore imports from Australia increased in Feb’18:
Australia continues to be the largest exporter of iron ore to South Korea in Feb’18 at 4.18 MnT, up 12% M-o-M (contributing 79% of total import share), followed by Brazil at 0.55 MnT ( down 63% M-o-M), and Canada at 0.28 MnT (up 87% M-o-M).
South Korea’s iron ore imports from India recorded increase of 14% M-o-M in Feb’18 to 0.08 MnT and imports from Chile recorded nil in Feb’18.
South Korea Country wise import for Feb’18 v/s Jan’18
| Country | Feb-18 | Jan-18 | M-o-M (%) | Jan-Feb’18 | Jan-Feb’17 | Y-o-Y (%) |
| Australia | 4.18 | 3.74 | 12% | 7.92 | 7.03 | 13% |
| Brazil | 0.55 | 1.5 | -63% | 2.05 | 1.79 | 15% |
| Canada | 0.28 | 0.15 | 87% | 0.43 | 0.44 | -2% |
| South Africa | 0.17 | 0.45 | -62% | 0.62 | 0.98 | -37% |
| India | 0.08 | 0.07 | 14% | 0.15 | 0.07 | 114% |
| Ukraine | 0 | 0 | 0% | 0 | 0.26 | -100% |
| Chile | 0 | 0.32 | -100% | 0.32 | 0 | 100% |
| Grand Total | 5.26 | 6.22 | -15% | 11.48 | 10.56 | 9% |
Quantity in MnT
Source: South Korea Customs
Provisional Data
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