South Korea -world’s 2nd largest importer of ferrous scrap had imported 5.64 MnT scrap in CY16.The country has witnessed 6% growth in its imports in the first half of CY17 with imports at 2.90 MnT compared with 2.73 MnT imports in the (Jan-Jun) H1 CY16.
However, total imports in Jun’17 remained unaltered M-o-M at 0.48 MnT compared with May’17. Although imports were down 4% Y-o-Y as imports was 0.50 MnT in Jun’16.
Japan continues to remain the largest Ferrous scrap supplier to South Korea –
Japan occupied largest share of total South Korean Imports at 67%( 1.94 MnT) followed by Russia 17% (0.48 MnT), United States 9% (0.27 MnT) in H1 CY17.
Japan continued to hold the leading share of ferrous scrap imports to South Korea in H1 CY17 and exported 1.94 MnT scrap to South Korea. In Jun’17 Japan exported 0.34 MnT scrap to South Korea against 0.32 MnT in May’17.
Russia remained the 2nd major exporter of ferrous scrap to South Korea at 0.10 MnT in Jun’17.
South Korea imported Chinese ferrous scrap again in Jun’17- China’s exports to South Korea was nil during Jan-Apr’17 but In May’17, 0.01 MnT scrap was imported, Continuing it again in June month, 0.01 MnT scrap was imported from China.
| Loading Country |
Jun’17 | May’17 | M-o-M % | Jun’16 | Y-o-Y%Change | Jan-Jun’17 | Jan-Jun’16 | % Change |
| Japan | 0.34 | 0.32 | 6.25 % | 0.35 | – 2.85 % | 1.94 | 1.67 | 16.67 % |
| Russia | 0.10 | 0.09 | 11.11 % | 0.12 | – 16.67 % | 0.48 | 0.45 | 6.67 % |
| United States | 0.01 | 0.04 | – 0.75 % | 0.01 | 0 % | 0.27 | 0.42 | – 35.8 % |
| United Kingdom | 0 | 0 | 0 % | 0 | – | 0.04 | 0 | 100 % |
| Others | 0.03 | 0.03 | 0 % | 0.02 | 200 % | 0.17 | 0.19 | – 10.52 % |
| Total | 0.48 | 0.48 | 0 % | 0.50 | – 4 % | 2.90 | 2.73 | 6.23 % |
Quantity In MnT
Source: Customs Data, SteelMint Stats
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