South Korea Iron Ore Import Up by 14% in Jul’16

Trade statistics released by South Korea Customs shows that South Korean iron ore imports significantly increase by 14.2% in Jul’16 M-o-M.

In Jul’16, the country imported around 5.79 MnT iron ore as compared to 5.07 MnT in Jun’16. Imports drop down significantly by 17.7% Y-o-Y when compared with Jul’15 as it was 7.04 MnT.

The non-agglomerated iron ore (lumps and fines) imports in Jul’16 was registered at 5.47 MnT, decreased by 18.2% over the previous year. The largest exporter of non-agglomerated iron ore to South Korea during Jul’16 was Australia with 4.15 MnT iron ore. The other key countries who exported non-agglomerated iron ore to South Korea were Brazil (0.80 MnT), South Africa (0.37 MnT), Canada (0.15 MnT).

The agglomerated iron ore (pellets and concentrates) imports in Jul’16 was registered at 0.32 MnT, increased by 39% over the previous year. The largest exporter of agglomerated iron ore to South Korea during Jul’16 was Brazil with 0.24 MnT agglomerated ore. The other key countries who exported iron ore to South Korea were Australia (0.08 MnT).