South Korea: Ferrous scrap import increases by 29% in Dec’20

South Korea – one of the largest ferrous scrap importer, recorded a volume of 0.36 mn t in Dec’20, (up by 29% m-o-m) as against 0.28 mn t in Nov’20, as per data recorded with SteelMint. Japan continued to be the largest supplier, followed by Russia and US. Korean mills booked Japanese scrap cargoes during Oct’20 at favorable prices, which enhanced imports.