South Korea: Ferrous Scrap Exports Increase More Than Double in Nov’17

As per recent data received, South Korea has recorded 2.4 times increase in ferrous scrap exports in Nov’17 against ferrous scrap exports in Oct’17.South Korea exported 39,602 MT ferrous scrap in Nov’17 against 16,336 MT ferrous scrap exports in Oct’17 thus country witnessed around 142% M-o-M rise in its ferrous scrap exports in Nov’17.

However, on yearly comparison, exports declined marginally by 3% Y-o-Y against 41,034 MT ferrous scrap exports in Nov’16.

South Korea’s ferrous scrap exports summed at 379,524 MT during the period of first eleven months in CY17. Exports have shown growth of 26% Y-o-Y, as the ferrous scrap exports amounted to 300,558 MT during the same time frame in last year (i.e. Jan-Nov’16).

South Korea exported total 353,074 MT ferrous scrap over a span of CY16.The exports during Jan-Nov’17 have already surpassed last year’s total ferrous scrap exports and thus exports volumes are likely to increase further in CY17.

Vietnam remained the largest importer of South Korean ferrous scrap –

During Jan-Nov’17, Vietnam imported the highest share of 36% of total South Korean ferrous scrap exports. Vietnam imported 137,631 MT ferrous scrap from South Korea in Nov’17, followed by China (109,378 MT), Taiwan (50,710 MT), Thailand (32,898 MT) and India (16,567 MT) in Nov’17 respectively.

Other major importers of ferrous scrap were Indonesia, Bangladesh and Japan respectively during Jan-Nov’17.

In Nov’17, the largest importer of South Korean ferrous scrap was Vietnam with 15,424 MT ferrous scrap imports followed by China (13,525 MT), Taiwan (6,397 MT) and Japan (3,000 MT) respectively.

Year-wise South Korea ferrous scrap exports –

~Inputs from Iru Miru Publication