South Korea Imports Hit Ten Month High in June’18

World’s 3rd largest iron ore importer -South Korea iron ore imports for the month of June’18 recorded at 6.86 MnT, up 9% M-o-M as against 6.28 MnT in May’18. The imports in June’18, recorded highest in ten months since Sept’17 imports at 7.01 MnT. On yearly basis, the imports in June’18 recorded increase by 8% compared to June’17 imports at 6.33 MnT.

South Korea has witnessed increase in quarterly iron ore import volumes in Q2 CY’18. The imports witnessed at 18.78 MnT in second quarter CY’18, up 10% Q-o-Q as against previous quarter at 17.02 MnT. On yearly basis, the imports depicted 8% rise as against Q2 CY’17 at 17.45 MnT.

Agglomerated iron ore (pellets and concentrate) imports in Jun’18 increased sharply by 69% to 0.44MnT as against 0.26 MnT in May’18. However in Q2 CY’18, export witnessed at 0.83 MnT, down by 24% Q-o-Q as against 1.09 MnT in Q1 CY’18. On yearly basis, imports recorded decline of 15% as against Q2 CY’17 imports at 0.98 MnT.

Non-agglomerated iron ore (lumps & fines) imports in Jun’18 increased by 7% to 6.42 MnT as against 6.02 MnT in May’18. In Q2 CY’18, iron ore exports recorded at 17.94 MnT, up 13% on quarterly basis compared to 15.94 MnT in last quarter. The imports on yearly premises recorded 9% increase as compared to 16.47 MnT in Q2 CY’17.

Australian Iron ore exports to South Korea Up 4%

In June’18, Australian exports recorded at 4.98 MnT, up 4% M-o-M, followed by Brazil at 0.85 MnT and South Africa at 0.44 MnT. Indian iron ore exports in June’18 declined 55% to 0.05 MnT as against 0.11 MnT in May’18.

South Korea Country wise import for Jun’18 v/s May’18

Quantity in MnT
Source: South Korea Customs
Provisional Data