South Korean imported Iron ore and Finish Steel Surged in July’19, as per Custom data maintained with SteelMint.
South Korea Iron Ore Imports Up 8% in July’19- South Korea iron ore imports in July’19 recorded at 6.77 MnT, up 8% as against 6.27 MnT in June’19. On yearly basis, imports increased by around 19% as compared to 5.70 MnT in July’18.
South Korean imports from Australia marked at 4.99 MnT, up by around 3% M-o-M followed by Brazil surged to 0.97 MnT for the month of Jul’19 against 0.18 MnT a month ago amidst Vale’s resumption at its Brucutu mines and partial resumption at its Vargem Grande Complex in July’19 and South Africa and India fell for the month to 0.2 MnT and 0.05 MnT respectively.
Ferrous Scrap – South Korean ferrous scrap imports marginally dropped by around 4% M-o-M in July’19 and registered at 0.53 MnT in Jul’19 against 0.55 MnT in Jun’19.
Scrap imports from the largest supplier Japan continued to move downwards for 4th successive month amid availability of inventories while USA imports too witnessed a drop in imports for July delivery, on volatility in prices.
On yearly premises imports witnessed a decline by 8% Y-o-Y against 0.49 MnT in July’18.
Country-wise – Japan remained the largest scrap supplier to South Korea in Jul’19 as it exported 0.29 MnT ferrous scrap occupying a share by around 55% in total imports, falling by 6.45% M-o-M against 0.31 MnT in Jun’19. USA stood as the second-largest supplier, witnessing a sharp fall of 27% M-o-M with 0.11 MnT in Jul’19 followed by other major suppliers Russia (0.06 MnT, elongate by 20% M-o-M).
Leading steel mills from South Korea have remained majorly away from buying Japanese scrap actively in July, which is likely to reflect in the country’s scrap imports in Aug-Sept’19, while increased port inspections for Japanese scrap and other trade issues between the countries remain the important factors.
Coal- South Korean coal imports have attained a 6-month high total during Jul’19, as the country witnesses an upsurge in non-coking coal shipments.
Data provided by customs indicates that coal imports by the country had increased by 26% M-o-M to12.95 MnT in Jul’19 compared with 10.27 MnT in Jun’19. Besides, the high volume of coal intake had eventually helped the country to attain its first y-o-y growth since Feb’19.
South Korean imports in Jul’19 were marked up by 5% higher on yearly basis and stood at 12.34 MnT in Jul’18.
Over the period, Korean imports of non-coking coal had recorded remarkable growth in Jul’19, noted 42% higher m-o-m at 10.59 MnT. On the other hand, imports of coking and anthracite coal continued their declining trend during the month.
Semi Finish- South Korean semi finish (Billet/Pig Iron) import is registered at 0.14 MnT in July’19 down by 30% as compared to 0.2 MnT in Jun’19.
In line, on yearly basis it decline by 6.676% against 0.15 MnT of July’18.
Finish Long Steel- South Korean finish long steel import registered at 0.22 MnT in July’19 increased by around 16% against 0.19 MnT in Jun’19.
In line, on yearly premises the country’s import of long steel is enlarged by 69.23% against 0.13 MnT in July’18.
Commodity wise- Rebar import in July’19 registered at 0.12 MnT moved up by 20% against 0.10 MnT in Jun’19 followed by Structure(Angle,Channel) at 0.07 MnT in July’19 down by 12.5% against 0.08 MnT in Jun’19 and Wire rod at 0.02 MnT in July’19 which remained stable against previous month.
Country wise- China stood as top exporter of finish long steel to South Korea and registered at 0.10 MnT in July’19 (+11.11%) against 0.09 MnT in Jun’19 followed by Japan 0.07 MnT in July’19 (+16.67%) against 0.06 MnT in Jun’19 and Vietnam at 0.02 MnT in July’19 which remained stable against previous month.
Finish Flat Steel- South Korea finish flat steel import registered at 0.73 MnT in Jul’19 moved up by 7.35% against 0.68 MnT in Jun’19, and on yearly basis also the country’s flat steel import raised 43.13% against 0.51 MnT of July’18.
Finish Flat Stainless Steel – South Korean finish flat stainless steel import registered at 0.07 MnT in July’19 which remained stable against Jun’19.
Ferro Alloy- South Korean ferro alloy import registered at 0.07 MnT in July’19 which remained stable against Jun’19.
In line on yearly basis also import down by 12.5% against 0.08 MnT of same month of previous year i.e July’18.
Graphite Electrode- South Korea graphite electrode import is down by 26.14% to 3,392 MT in July’19 against 4,593 MT in Jun’19, and on yearly basis also import down by 12.5% against 3,879 MT of July’18.
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