South Korea has witnessed slight increase in imports in Jan’18. It recorded increase to 6.22 MnT, up 1% as against 6.15 MnT in Dec’17. The Y-o-Y imports witnessed a similar marginal rise in Jan’18 as against 6.13 MnT in Jan’17.
In CY’17, South Korea imported 72.43 MnT iron ore, almost stable against 71.6 MnT a year ago.
Agglomerated iron ore (pellets and concentrate) imports were up by 33% M-o-M to 0.4 MnT in Jan’18 against 0.3 MnT in Dec’17. The Y-o-Y change depicted a rise of 60% as compared to 0.25 MnT in Jan’17.
A non-agglomerated iron ore (lumps & fines) imports remained almost stable at 5.83 MnT in Jan’18 as against 5.85 MnT in Dec’17. The Y-o-Y imports in Jan’18 recorded marginal decline as against 5.88 MnT in Jan’17.
Iron Ore imports from Australia down, imports from Chile increased sharply:
Australia continues to be the largest exporter of iron ore to South Korea in Jan’18 at 3.74 MnT, down 13% M-o-M (contributing 60% of total import share), followed by Brazil at 1.5 MnT( up 40% M-o-M), and South Africa at 0.45 MnT (up 61%).
South Korea’s iron ore imports from Chile increased sharply to 0.32 MnT in Jan’18 compared to 0.07 MnT in Dec’17. The Imports from India recorded at 0.07 MnT , which stood nil a month before.
South Korea Country wise import for Jan’18 v/s Dec’17
| Country | Jan’18 | Dec’17 | M-o-M (%) | Jan’17 | Y-o-Y (%) |
| Australia | 3.74 | 4.3 | -13% | 4.18 | -11% |
| Brazil | 1.5 | 1.07 | 40% | 1.22 | 23% |
| South Africa | 0.45 | 0.28 | 61% | 0.37 | 22% |
| Chile | 0.32 | 0.07 | 357% | – | 100% |
| Canada | 0.15 | 0.42 | -64% | 0.29 | -48% |
| India | 0.07 | – | 100% | 0.07 | 0% |
| Grand Total | 6.22 | 6.15 | 1% | 6.13 | 1% |
Quantity in MnT
Source: South Korea Customs
Provisional Data
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