Trade statistics released by South Korea Customs shows that South Korean iron ore imports significantly drop by 4.2% in H1 2016 as compared to H1 2015.
In H1 2016, the country imported around 34.2 MnT iron ore as compared to 35.7 MnT in H1 2015.
In Jun’16, the country imported 5.07 MnT iron ore as compared to 5.5 MnT in Jun’15. Imports drop down significantly by 12.2% Y-o-Y and M-o-M also when compared with May’16. The average price of import dropped by 18.2% to USD 52.9/MT as compared to average import price of USD 64.6/MT during Jun’15.
The non-agglomerated iron ore (lumps and fines) imports in H1 2016 was registered at 32.7 MnT, decreased by 4.6% over the previous year. The largest exporter of iron ore to South Korea during H1 2016 was Australia with 24.9 MnT iron ore. The other key countries who exported iron ore to South Korea were Brazil (4.2 MnT), South Africa (1.4 MnT), Canada (1.2 MnT), India (0.36 MnT).
The agglomerated iron ore (pellets and concentrates) imports in H1 2016 was registered at 1.53 MnT, increased sharply by 14% over the previous year. The largest exporter of iron ore to South Korea during H1 2016 was Brazil with 0.99 MnT agglomerated ore. The other key countries who exported iron ore to South Korea were Australia (0.07 MnT), Chile (0.08 MnT), Ukraine (0.25 MnT).
Leave a Reply