Imported scrap arrivals at South Korean ports decreased this week. Roughly 130,585 t of ferrous scrap was projected to arrive at key ports this week. Imports showed a steady increase until mid-February 2023 before slipping into a downtrend in March.
Company-wise imports:
Hyundai Steel: Hyundai Steel’s imports have been decreasing in March. This week, Hyundai Steel received 19,499 t of scrap from Incheon Port and 7,359 t from Pohang: a total of 26,858 t, down 7,000 t from the previous week.
Dongkuk Steel: Dongkuk Steel imported 33,370 t from Incheon, a modest increase of 1,000 t over the previous week. Dongkuk Steel had been importing the most among steelmakers until early February, but since March it has maintained a port shipment of 20,000-30,000 t, same as last year.
POSCO: POSCO’s scrap inflow increased in comparison with last week. It brought 42,600 t of scrap for its Gwangyang and Pohang works this week, an increase of around 2,500 t against the previous week. After last year’s flood damage, POSCO’s scrap imports had been quite low but have rebounded since last week. Despite a modest decline compared to last week, POSCO has maintained the most consistent import volume this year.
Port-wise arrivals
In Busan, 8,000 t of scrap was brought in by Daehan Steel and YK Steel, while SeAh Besteel brought in 16,957 t at Gunsan Port. Grade-wise, shredded scrap received was 5,000 t, shindachi 11,390 t, HS 5,925 t, HMS 10,000 t, and 10,500 t of H2.
Note: This article has been published in accordance with an article exchange agreement between SteelDaily and SteelMint.
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