South Korea: Ferrous Scrap Imports Rise 17% M-o-M in May’17

South Korea -world’s major importer of ferrous scrap, was going through a decline in its imports from the last two months, but discontinuing its trend, it has registered hike in its ferrous scrap imports in May’17.

South Korea has imported 0.48 MnT of ferrous scrap in May’17 with hike of 17% against 0.41 MnT in Apr’17.

Japan continues to remain the largest scrap exporter to South Korea –  Japan continued to hold the leading share of Ferrous Scrap imports into South Korea again which is almost 65% of the whole imports. Japan exported 0.32 MnT scrap to South Korea in May’17 against 0.30 MnT in Apr’17.

Other major exporters of ferrous scrap to South Korea in May’17 were Russia and USA at 0.09 and 0.04 MnT respectively.

South Korea also imported Chinese ferrous scrap in May’17 – Unlike previous months, ferrous scrap exports from China to South Korea witnessed increase in May’17. China exported 0.01 MnT scrap to South Korea in May’17 which was nil during Jan-Apr’17.

Country-wise South Korea scrap imports: May’17 vs Apr’17

Source: South Korea Customs Data