South Korea: Iron Ore Imports Down 5% in Q3 CY’18

World’s 3rd largest iron ore importer – South Korea has witnessed fall in quarterly iron ore import volumes in Q3 CY’18. The imports witnessed at 17.92 MnT, down 5% Q-o-Q as against 18.78 MnT in second quarter CY’18. The imports in Q3 CY18 dropped 8% as against Q3 CY’17 at 19.48 MnT.

South Korea imports dropped 29% in Sep’18

South Korea iron ore imports for the month of Sep’18 recorded at 5.09 MnT, down 29% M-o-M as against 7.13 MnT in Aug’18. On yearly basis, the imports in Sep’18 recorded 27% fall as compared to Sep’17 imports at 7.01 MnT.

South Korea crude steel production for the month of Sep’18 witnessed at 5.85 MnT, down 4% as against 6.10 MnT a month ago.

Agglomerated iron ore (pellets and concentrate) imports in Sept’18 witnessed at 0.17 MnT, down 56% M-o-M as against 0.39 MnT in Aug18. On yearly basis, imports recorded decline of 6% as against Sept’17 imports at 0.18 MnT.

Non-agglomerated iron ore (lumps & fines) imports in Sept’18 recorded at 4.92 MnT, down 27% on monthly basis compared to 6.74 MnT in last month. The imports on yearly premises recorded 28% fall as compared to 6.83 MnT in Sept’17.

Australian iron ore exports to South Korea down Significantly in Sep’18

In Sep’18, Australian exports recorded at 3.24 MnT, down 39% M-o-M, followed by Brazil at 0.8 MnT and South Africa at 0.79 MnT. Indian iron ore exports in Sep’18 increased to two folds at 0.1 MnT as against 0.05 MnT in Aug’18.

South Korea Country wise import for Sept’18 v/s Aug’18

Quantity in MnT
Source: South Korea Customs
Provisional Data