South Korea, the third-largest iron ore importer,after China and Japan, have imported 5.84 MnT iron ore in Oct’16, according to the trade data released by South Korean Customs.
Iron ore imports have witnessed a downfall of 10% M-o-M as it was 6.49 MnT in Sept’16. On similar lines, South Korean iron ore import decreased by 8% Y-o-Y.
During the first 10 months of 2016, the country imported 58.78 MnT iron ore, down by 3% Y-o-Y as it was 60.54 MnT in the same consecutive period prior this year.
The non-agglomerated iron ore (lumps and fines) import in Oct’16 was registered at 5.45 MnT, down by 11% M-o-M . On Y-o-Y basis, the non-agglomerated iron ore imports also decreased by 8%.The agglomerated ore (pellets and concentrates) import was registered at 0.39 MnT, up by 11% M-o-M and down by 15% Y-o-Y.
Country-wise South Korean iron ore imports in Oct’16
| Countries | Oct’16 | Sept’16 | % change | Jan-Oct’16 | Jan-Oct’15 | % change |
| Australia | 3.92 | 5.09 | -23% | 42.33 | 43.93 | -4% |
| Brazil | 0.9 | 0.8 | 13% | 9.12 | 10.74 | -15% |
| South Africa | 0.41 | 0.17 | 141% | 2.95 | 3.56 | -17% |
| Canada | 0.29 | 0.15 | 93% | 2.19 | 1.82 | 20% |
| Ukraine | 0.17 | 0 | 100% | 0.71 | 0.08 | 788% |
| Russia | – | – | – | 0.15 | 0 | 100% |
| UAE | – | – | – | 0.06 | 0 | 100% |
| Chile | 0.08 | 0.2 | -60% | 0.28 | 0.25 | 12% |
| India | 0.07 | 0.07 | – | 0.49 | 0.14 | 250% |
| Others | – | – | – | 0 | 0.02 | -100% |
| Grand Total | 5.84 | 6.49 | -10% | 58.78 | 60.54 | -3% |
Quantity in MnT
Source: South Korean Customs
Provisional Data
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