South Korea’s ferrous scrap imports decline by 20% m-o-m in Nov’20

South Korea – world’s third largest ferrous scrap importer, witnessed a drop in scrap imports by 20% m-o-m to 0.28 mn t in Nov’20 as against 0.35 mn t in Oct’20, as per data recorded with SteelMint. Japan remained the largest supplier to Korea at 0.20 mn t in Nov’20, followed by USA and Russia. Preference to domestic scrap on higher imported offers limited imports.