S. Korea's ferrous scrap imports declined in October

SEOUL (Scrap Monster): As per the most recent data, the ferrous scrap imports by South Korea during the month of October this year dropped sharply over the previous year. Also, imports inched lower higher when matched with the previous month.

The country’s total scrap imports during October this year amounted to 467,000 tons. The imports were down sharply by 17.8% when compared with the same month a year ago. South Korean scrap imports had totaled 568,000 tons during October last year. Also, scrap imports during Oct ’15 dropped significantly lower by nearly 21.9% when compared with the imports of 598,000 tons during September this year.

During Oct ‘15, Japan was the largest scrap exporter to South Korea. The scrap imports from Japan totaled 264,000 tons, accounting for more than 56% of the country’s total scrap imports. The scrap imports from Japan dropped by 10.9% year-on-year.

The second largest exporter of scrap to South Korea was the US. The scrap imports by the country from the US totaled 65,000 tons, down by 27.2% when compared with the previous year imports. In third place was Russia with supply volume of 56,000 tons. The South Korean ferrous scrap imports from Russia plunged by 29.1% year-on-year during the month.