South Korea: Stainless steel scrap imports dip m-o-m in Aug

South Korea’s stainless steel scrap imports in August 2022 stood at 30,985 tonnes (t), down 5% from 32,561 t in July, according to customs data.

Total imports from January to August this year totalled 229,974 t, an increase of 15% over the same period in 2021.

Exports

South Korean stainless steel scrap exports totalled 9,539 t in August, an increase of 3% from 9,292 t in July. Total exports were 70,659 t from January to August this year, a decrease of 38% from the same period last year.

Country-wise imports, exports

Japan was the largest exporter of stainless steel scrap to South Korea in August with 8,730 t, a decrease of 12% over the previous month.

Thailand and Taiwan were the second and third largest exporters, with 7,883 t and 6,789 t, respectively.

India was the largest importer of stainless steel scrap from South Korea in August, with 6,924 t, followed by Japan at 1,315 t.

Stainless steel finished goods scenario

Imported finished goods
The total volume of imported finished flat stainless steel was 41,930 t in August, down 29.19% from 59,212 t in July.

During the January-August 2022 period, the total volume was recorded at 362,225, a y-o-y decrease of 33.28% as against the same period last year.

According to SteelMint data, China was the largest exporter in July with 17,901 t, followed by Indonesia and Taiwan with 10,870 t and 5,068 t, respectively.

Finished products exports
The total volume of exported finished flat stainless steel was 82,773 t in August, down 7% from 89,086 t in July.

According to SteelMint data, Thailand was the largest importer in August with 14,492 t, followed by Vietnam and Japan, with 12,010 t and 11,967 t, respectively.