World’s 3rd largest iron ore importer – South Korea has witnessed stability in monthly iron ore import volumes. South Korea imported 5.64 MnT iron ore. The imports in Apr’18 stood in line with imports in Mar’18 at 5.54 MnT. However, the Y-o-Y imports witnessed slight decline as against Apr’17 imports at 5.83 MnT.
For, Jan-Apr’18, the total imports recorded at 22.67 MnT, stable as against imports for the same duration last year (Jan-Apr’17). Australia stood the largest exporter at 16.06 MnT (stable Y-o-Y), followed by Brazil at 3.23 MnT (down 3% Y-o-Y), and South Africa at 1.7 MnT (up 7% on yearly basis).
Agglomerated iron ore (pellets and concentrate) imports in Apr’18 witnessed at 0.13 MnT, down 77% M-o-M as against 0.56 MnT in Mar’18. On yearly basis, imports recorded fall of 75% as compared to imports in Apr’17 at 0.51 MnT.
Non-agglomerated iron ore (lumps & fines) imports in Apr’18 recorded at 5.5 MnT, up 10% M-o-M compared to 4.98 MnT in Mar’18. The imports on yearly premises stood in line with imports in Apr’17 at 5.32 MnT.
Australian iron ore export to South Korea increased 27% in Apr’18
Australia continued to remain the largest iron ore exporter to South Korea at 4.55 MnT in Apr’18, contributing 81% of total South Korean imports for the month. Australian exports recorded increase of 27% M-o-M in Apr’18 as against 3.59 MnT in Mar’18, followed by Brazil at 0.61 MnT (up 9% M-o-M) and South Africa at 0.34 MnT.
Exports from South Africa, Canada and India witnessed at 0.34 MnT (down 54% M-o-M), 0.08 MnT (down 43%) and 0.05 MnT (down 62%) respectively.
South Korea depicted decline in imports from India owing to end of LTA’s for procurement of iron ore from MMTC Limited. The LTA’s expired on 31st Mar’18, and was renewed towards the end of Apr’18, recording nil imports from MMTC (which exports on behalf of NMDC) for the month of Apr’18.
Imports from Chile and Ukraine recorded nil in Apr’18 as against being 0.2 MnT and 0.18 MnT respectively a month ago.
South Korea Country wise import for Apr’18 v/s Mar’18
| Country | Apr’18 | Mar’18 | M-o-M (%) | Jan-Apr’18 | Jan-Apr’17 | Y-o-Y (%) |
| Australia | 4.55 | 3.59 | 27% | 16.06 | 16.27 | -1% |
| Brazil | 0.61 | 0.56 | 9% | 3.23 | 3.34 | -3% |
| South Africa | 0.34 | 0.74 | -54% | 1.7 | 1.59 | 7% |
| Canada | 0.08 | 0.14 | -43% | 0.65 | 0.94 | -31% |
| India | 0.05 | 0.13 | -62% | 0.33 | 0.26 | 27% |
| Ukraine | 0 | 0.18 | -100% | 0.18 | 0.43 | -58% |
| Chile | 0 | 0.2 | -100% | 0.53 | 0.2 | 165% |
| Grand Total | 5.64 | 5.54 | 2% | 22.67 | 23.04 | -2% |
Quantity in MnT
Source: South Korea Customs
Provisional Data
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