South Korea: Scrap imports surge amid demand from plate mills

• Bar mills’ scrap imports drop amid lower demand
• 80% of scrap imports coming from plate mills

SteelDaily: The total amount of imported and awaiting ferrous scrap at South Korea’s major ports recently surpassed 60,000 tonnes (t) to reach 65,980 t this week, with most of it coming from special steel plate companies.

Of the total inbound and outbound cargo, 79.5% was reported by special steel plate manufacturers. This suggests that steel bar manufacturers are importing less steel scrap due to the slow domestic steel bar market.

Company-wise arrivals

Hyundai Steel – 6,275 t are entering Incheon and 2,000 t are entering Dangjin Port.

SeAH Besteel – 16,000 t at Gunsan Port.

Daehan Steel – 2,500 t at Busan Port.

Dongkuk Steel – has not reported any volume this week.

POSCO – 11,000 t at Pohang and another 22,823 t at Gwangyang Port (highest w-o-w).

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