South Korea: Ferro Alloy Imports Down by 36% M-o-M in Aug’17

According to the South Korean customs, the country has witnessed a substantial decrease of 36% M-o-M in its Ferro Alloy imports.

In Aug’17, South Korea imported a total of 0.07 MnT Ferro Alloys against 0.11 MnT in Jul’17. Moreover, on yearly basis, there has been a decrease in its imports by 13% Y-o-Y against 0.08 MnT in Aug’16.

In Aug’17, both Ferro Chrome and Ferro Silicon occupied a relatively similar volume of South Korean Ferro Alloy imports at 0.03 MnT each. South Korea registered a substantial fall of 63% M-o-M in its Ferro Chrome imports as buyers retreated to the sidelines on rising global Chrome Ore prices, while, Ferro Silicon imports witnessed an increase of around 50% M-o-M.

India and China surpassed South Africa to become the largest Ferro Alloy exporting countries to South Korea in Aug’17, both exporting an equivalent volume of 0.02 MnT each. South Africa on the other hand, exported 0.01 MnT in Aug’17 against 0.05 MnT in Jul’17.