South Korea: Iron Ore & Pellet Imports from India Doubled in May

World’s 3rd largest iron ore importer – South Korea has witnessed sharp increase in monthly iron ore import volumes from India. Its import from India increased from 0.05 MnT in Apr’18 to 0.11 MnT in May’18.

South Korea depicted increase in monthly iron ore import volumes.  The total imports in May’18 stood at 6.28 MnT, up by 11% M-o-M as against Apr’18 imports at at 5.64 MnT . The Y-o-Y imports witnessed 19% increase as against May’17 imports at 5.29 MnT.

For Jan-May’18, the total imports recorded at 28.95 MnT, stable as against imports for the same duration last year (Jan-Apr’17) at 28.33MnT.

Agglomerated iron ore (pellets and concentrate) imports in May’18 witnessed at 0.26 MnT, up by two folds M-o-M as against 0.13 MnT in Apr’18. On yearly basis, imports recorded rise of more than five folds as compared to imports in May’17 at 0.05 MnT.

Non-agglomerated iron ore (lumps & fines) imports in May’18 recorded at 6.02 MnT, up 9% M-o-M compared to 5.5 MnT in Apr’18. The imports on yearly premises recorded 15% increase compared at 5.24 MnT in May’17.

Indian iron ore and pellets export to Non-Chinese (South Korea) market Doubled

Australia continued to remain the largest iron ore exporter to South Korea at 4.77 MnT in May’18, contributing 76% of total South Korean imports for the month. Australian exports recorded increase of 5% M-o-M in May’18 as against 4.55 MnT in Apr’18, followed by Brazil at 0.92 MnT (up 51% M-o-M) and Canada at 0.3 MnT.

Exports from Canada witnessed significant increase to more than three folds M-o-M at 0.3 MnT

India exports recorded at 0.11 MnT up by more than twice on monthly basis as against 0.05 MnT in Apr’18.

South Korea Country wise import for May’18 v/s Apr’18

Quantity in MnT
Source: South Korea Customs
Provisional Data