South Korea, the third-largest iron ore importer after China and Japan, have imported 4.43 MnT iron ore in Feb’17, according to the trade data released by South Korean Customs.
Iron ore imports have witnessed a decrease of 28% M-o-M as it was 6.13 MnT in Jan’17. On similar lines, South Korean iron ore import increased by 27% Y-o-Y compared with the month of Feb’16.
During the first 2 months of 2017, the country imported 10.56 MnT iron ore, down by 12% Y-o-Y as it was 11.99 MnT in the same consecutive period prior to this year.
The non-agglomerated iron ore (lumps and fines) import in Feb’17 was registered at 3.93 MnT, down 50% M-o-M and 33% Y-o-Y compared with the Feb’16, The agglomerated ore (pellets and concentrates) import was registered at 0.50 MnT, up 99% M-o-M and 255% Y-o-Y compared with the month of Feb’16.
Country-wise South Korean iron ore imports in Feb’17
| Country | Feb’17 | Jan’17 | % change | Jan-Feb17 | Jan-Feb16 | % change |
| Australia | 2.85 | 4.18 | -32% | 7.02 | 7.90 | -11% |
| Brazil | 0.57 | 1.22 | -54% | 1.78 | 2.32 | -23% |
| South Africa | 0.61 | 0.37 | 65% | 0.98 | 0.56 | 75% |
| Canada | 0.15 | 0.29 | -50% | 0.44 | 0.53 | -17% |
| Ukraine | 0.26 | 0.00 | 100% | 0.26 | 0.34 | -25% |
| Chile | 0.00 | 0.00 | 0% | 0.00 | 0.20 | -100% |
| India | 0.00 | 0.07 | -100% | 0.07 | 0.14 | -50% |
| Grand Total | 4.43 | 6.13 | -28% | 10.56 | 11.99 | -12% |
Quantity in MnT
Source: South Korean Customs
Provisional Data
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