Korea's imports of Russia scrap are
expected to plunge after a ban on scrap exports from the Russian Far East takes
effect from 13 February.
Hyundai Steel and Dongkuk Steel Mill
are the main importers of Russian scrap in Korea, with average imports of
around 50,000-70,000/MT and 20,000/MT per month respectively.
According to a trader based in South
Korea (Seoul), “These two mills combined regularly import around 900,000
MT per year.”
“Importing
from Magadan, the sole-designated exporting port for Russian scrap, may not be
feasible because of higher freight costs and fewer vessels. Reduced Russian
scrap imports could also mean an increase in containerized scrap exports to
Korea”, he added.
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