World’s 3rd largest iron ore importer – South Korea has witnessed rise in iron ore import volumes in Nov’18. The imports witnessed at 7.33 MnT, up 20% as against 6.13 MnT in Oct’18.
On yearly basis, the Nov’18 imports witnessed rise of 22% as against Nov’17 imports at 5.99 MnT.
For CY’18 (Jan-Nov’18), the total imports witnessed at 67.19, almost in line with 66.27 MnT in Jan-Nov’17.
South Korea crude steel production for the month of Nov’18 witnessed at 5.93 MnT, down 3% as against 6.12 MnT a month ago.
Agglomerated iron ore (pellets and concentrate) imports in Nov’18 witnessed at 0.47 MnT, down 13% M-o-M as against 0.54 MnT in Oct’18. On yearly basis, imports recorded rise of 15% as against Nov’17 imports at 0.41 MnT.
Non-agglomerated iron ore (lumps & fines) imports in Nov’18 recorded at 6.86 MnT, up 23% on monthly basis compared to 5.59 MnT in last month. Imports on yearly premises also recorded increase by 23% as compared to 5.57 MnT in Nov’17.
Australian iron ore exports to South Korea up 33% in Nov’18
In Nov’18, Australian exports recorded at 5.39 MnT, contributing 74% of total South Korean exports for the month. The exports increased 33% M-o-M as against 4.06 MnT in Oct’18.
Brazil stood second largest exporter at 0.8 MnT (down 17% M-o-M) followed by South Africa at 0.34 MnT (down 19% on monthly basis). Indian exports also witnessed drop for the month at 0.18 MnT as against 0.2 MnT a month ago.
South Korea Country wise import for Nov’18 v/s Oct’18
| Country | Nov-18 | Oct-18 | M-o-M (%) | Jan-Nov’18 | Jan-Nov’17 | Y-o-Y (%) |
| Australia | 5.39 | 4.06 | 33% | 47.72 | 46.72 | 2% |
| Brazil | 0.8 | 0.96 | -17% | 9.80 | 9.84 | -0.4% |
| South Africa | 0.34 | 0.42 | -19% | 4.35 | 4.38 | -1% |
| Chile | 0.2 | 0 | 100% | 0.93 | 0.6 | 55% |
| India | 0.18 | 0.2 | -10% | 1.01 | 0.98 | 3% |
| Others | 0.42 | 0.49 | -14% | 3.37 | 3.75 | -10% |
| Grand Total | 7.33 | 6.13 | 20% | 67.19 | 66.27 | 1% |
Quantity in MnT
Source: South Korea Customs
Provisional Data
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