South Korea: Scrap iron arrivals at major ports exceed 35,000 t

• Sluggish domestic generation limits scrap supply
• Imports likely to offer short-term relief to market

SteelDaily: South Korea’s major ports recorded 35,099 tonnes (t) of imported scrap iron arrivals in the second week of June, according to SteelDaily.

With domestic scrap supply remaining tight due to sluggish generation, imports from Japan and other countries are playing a key role in filling the gap, at least temporarily.

Port-wise arrivals

• Incheon: Incheon is set to receive around 16,000 t of Japanese-origin scrap, including H2, SHRD, and HS grades. Vessels from key Japanese ports such as Niigata, Kawasaki, and Chiba are arriving in sequence.
• Gwangyang: Over 12,000 t of general scrap is expected, primarily at the POSCO-affiliated wharf. Some cargo has already been unloaded, with the remainder scheduled to be discharged during the week.
• Gunsan: Approximately 5,000 t of scrap is expected, including SHRD-sorted cargo.
• Jinhae, Pohang: Smaller volumes of 2,000-4,000 t have been confirmed. In Pohang, the arrival of heavy-duty ships is expected to lead to delivery contracts with major steelmakers.

Market update

While the recent inflow of scrap is expected to ease local supply pressures in the short term, market participants remain cautious about its broader impact.

A market participant noted, “With domestic supply so limited, imports are being used to help fill the gap. However, we are closely monitoring the flow, as it could be disrupted at any time due to exchange rate fluctuations or changes in local purchase prices.”

Distributors also agree that while the inflow may offer temporary relief, it is unlikely to result in immediate market stabilisation.

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