- Plate and special steel account for 72% of scrap imports
- After dull sentiments in Jan’25, mills ramp up imports
SteelDaily: The total volume of imported ferrous scrap at South Korea’s major ports surged to 109,750 t this week, a sharp rise from just 7,000 t in January.
About 72% of imports came from plate and special steel companies. This is likely due to a sharp decrease in steel scrap imports from shaped steel manufacturers, as the construction market has slowed.
Company-wise arrivals
Hyundai Steel – Imported 15,000 t at Dangjin Port alone. The company has been consistently importing, except for January of last year.
SeAH Besteel – 12,000 t at Gunsan Port.
Dongkuk Steel has not made any imports since December of last year.
POSCO – 16,500 t at Pohang and another 43,875 t at Gwangyang Port.
The reported cargo entering Masan Port was 7,000 t, which is believed to be the amount contracted between Korea Special Steel and SeAH Changwon Special Steel.
A market participant stated, “In January, limited import schedules were available due to Japan’s New Year holidays and month-end activities, resulting in insufficient import volumes. As a result, the recent increase in imports appears to be a proactive step to secure volumes in preparation for February.”
Note: This article has been published in accordance with a content exchange agreement between SteelDaily and BigMint.
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