South Korea, the third-largest iron ore importer,after China and Japan, have imported 6.49 MnT iron ore in Sept’16, according to the trade data released by South Korea Customs.
Iron ore imports have witnessed a marginal growth of 1.4% M-o-M as it was 6.40 MnT in Aug’16. On similar lines, South Korean iron ore import increased by 10.3% Y-o-Y.
During the first nine months of 2016, the country imported 52.9 MnT iron ore, down by 2.3% Y-o-Y as it was 54.19 MnT in the same consecutive period prior this year.
The non-agglomerated iron ore (lumps and fines) import in Sept’16 was registered at 6.14 MnT, slightly down by 0.16% M-o-M . On Y-o-Y basis, the non-agglomerated iron ore imports increased by 8.8%.
The agglomerated ore (pellets and concentrates) import was registered at 0.35 MnT, up by 40% M-o-M and 46% Y-o-Y.
- Australia, the largest exporter of iron ore to South Korea, accounted more than 70% of iron ore exports to South Korea. In Sept’16, the country exports 5.09 MnT, up by 24% M-o-M and 15% Y-o-Y.
- Brazil, the second-largest iron ore exporter to South Korea, exported 0.80 MnT iron ore in Sept’16, down by 28% M-o-M. The nation imported 0.78 MnT iron ore in Sept’15.
- Chile turned out to be the third largest iron ore exporter to South Korea by replacing South Africa and exported around 0.20 MnT iron ore in Sept’16. Country’s exports remained nil in Sept’15.
- South Africa, the fourth largest iron ore exporter to South Korea, exported around 0.17 MnT iron ore in Sept’16, down by 70% M-o-M and 68% Y-o-Y.
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