World’s 3rd largest iron ore importer -South Korea iron ore imports for the month of July’18 recorded at 5.7 MnT. The imports witnessed decline of 17% on monthly basis as against 6.86 MnT in June’18. On yearly basis, the imports in July’18 recorded 7% decrease compared to July’17 imports at 6.11 MnT.
South Korea crude steel production recorded at 6.12 MnT in June’18 as compared to 6.23 MnT in May’18.
For the duration Jan-July’18, the total imports by the country recorded at 41.5 MnT, almost in line with last year same duration (Jan-July’17) at 40.77 MnT.
Non-agglomerated iron ore (lumps & fines) imports in July’18 decreased by 16% to 5.39 MnT as against 6.42 MnT in June’18. On yearly basis, imports recorded decline of 8% as against July’17 imports at 5.86 MnT.
Agglomerated iron ore (pellets and concentrate) imports in July’18 dropped by 30% to 0.31 MnT as against 0.44 MnT in June’18. However, imports on yearly premises recorded an increase of 24% as compared to 0.25 MnT in July’17.
Australian Iron ore exports to South Korea down 22% M-o-M
In July’18, Australian exports recorded at 3.88 MnT, down 22% M-o-M as against 4.98 MnT in June’18, followed by Brazil at 0.86 MnT and South Africa at 0.46 MnT. Indian iron ore exports in July’18 recorded nil as against 0.05 MnT a month before.
South Korea Country wise import for July’18 v/s Jun’18
| Country | Jul-18 | Jun-18 | M-o-M (%) | Jan-July’18 | Jan-July’17 | Y-o-Y (%) |
| Australia | 3.88 | 4.98 | -22% | 29.69 | 29.11 | 2% |
| Brazil | 0.86 | 0.85 | 1% | 5.85 | 5.47 | 7% |
| South Africa | 0.46 | 0.44 | 5% | 2.8 | 2.93 | -4% |
| Canada | 0.3 | 0.37 | -19% | 1.61 | 1.72 | -6% |
| Chile | 0.2 | 0 | 100% | 0.73 | 0.4 | 83% |
| India | 0 | 0.05 | -100% | 0.48 | 0.56 | -14% |
| Other | 0 | 0.17 | -100% | 0.35 | 0.58 | -40% |
| Grand Total | 5.7 | 6.86 | -17% | 41.52 | 40.77 | 2% |
Quantity in MnT
Source: South Korea Customs
Provisional Data
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