South Korea, the third-largest iron ore importer,after China and Japan, have imported 6.25 MnT iron ore in Nov’16, according to the trade data released by South Korean Customs.
Iron ore imports have witnessed a growth of 7% M-o-M as it was 5.84 MnT in Oct’16. On similar lines, South Korean iron ore import increased by 6% Y-o-Y.
During the first 11 months of 2016, the country imported 65.03 MnT iron ore, down by 2% Y-o-Y as it was 66.43 MnT in the same consecutive period prior this year.
The non-agglomerated iron ore (lumps and fines) import in Nov’16 was registered at 5.94 MnT, up by 9% M-o-M . On Y-o-Y basis, the non-agglomerated iron ore imports also increased by 8%.The agglomerated ore (pellets and concentrates) import was registered at 0.30 MnT, down by 23% M-o-M and 19% Y-o-Y.
Country-wise South Korean iron ore imports in Nov’16
| Countries | Nov’16 | Oct’16 | % change | Jan-Nov’16 | Jan-Nov’15 | % change |
| Australia | 4.9 | 3.92 | 25% | 47.23 | 47.79 | -1% |
| Brazil | 0.57 | 0.9 | -37% | 9.69 | 12.1 | -20% |
| South Africa | 0.35 | 0.41 | -15% | 3.3 | 3.92 | -16% |
| Canada | 0.15 | 0.29 | -48% | 2.34 | 1.95 | 20% |
| Ukraine | – | 0.17 | -100% | 0.71 | 0.08 | – |
| Russia | – | – | – | 0.15 | 0 | 100% |
| UAE | – | – | – | 0.06 | 0 | 100% |
| Chile | 0.2 | 0.08 | 150% | 0.48 | 0.42 | 14% |
| India | 0.07 | 0.07 | – | 0.56 | 0.14 | 300% |
| Others | – | – | – | 0 | 0.03 | -100% |
| Grand Total | 6.25 | 5.84 | 7% | 65.03 | 66.43 | -2% |
Quantity in MnT
Source: South Korean Customs
Provisional Data
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