South Korea, one of the major scrap buying countries in the far east Asia region, reported that the arrival of imported scrap is increasing in the third week of Calendar Year 2023 (CY23), as per SteelDaily’s reports.
The total volume was recorded at all the major ports was 127,249 t, a sharp hike of about 58,000 t from the last week. The share of Japanese H2 grade scrap increased significantly at 38,359 t this week, accounting for 30.1% of the total import volume. Shredded accounted for 11.8% with 15,000 t, and HS accounted for 5.5% with 7,020 t, but the share of Shindachi imports slightly decreased to 12.6% of the total.
Company-wise imports-
- Hyundai Steel: Hyundai Steel’s shipments this week recorded the highest after May, 2022. The company brought in a total of 52,469 t of scrap, of which 14,294 t arrived at Dangjin Port, 22,675 t of scrap arrived in Incheon and 15,500 t at Pohang Port. The company’s import volume is expected to remain high until the end of January, 2023.
- Dongkuk Steel: Dongkuk Steel imported 19,370 t from Incheon Port, a significant hike of 6,500 t w-o-w. It also imported 5,000 t of pig iron from Pohang.
- SeAH Besteel: SeAH Besteel brought in 27,910 t from Gunsan Port. Daehan Steel and YK Steel imported 11,500 t from Busan Port.
- POSCO: POSCO entered the ports of Gwangyang and Pohang with a total of 10,000 t. Although it increased slightly from last week, imports have remained low since September, 2022.
Note: This article has been published in accordance with an article exchange agreement between SteelDaily and SteelMint.
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