Scrap imports by Korea during August plunge 24% y-o-y

TOKYO (Scrap Monster) :  According to data, the scrap imports by Korea during the month of August declined year-on-year. The imports have also slowed down from a month ago.

As per statistics, the total scrap imports by Korea during the month of August this year totaled 651,000 tons. The scrap imports by the country witnessed a sharp decline of 24% when compared with the imports during August 2012. On a month-on-month basis, the Korean scrap imports have declined by nearly 10%.

During August this year, Japan was the largest scrap exporter to Korea, accounting for more than 50% of the total Korean scrap imports. The total scrap imports from Japan amounted to 338,000 tons, 30.7% lower when compared with the imports during same month a year before.

The second largest exporter of scrap to Korea was Russia. The total scrap imports by Korea from Russia amounted to 128,000 tons. The scrap imports from Russia soared by nearly 50% year-on-year in August.

In third place was the US, with total exports of 90,000 tons. The scrap imports from the US declined considerably by 48.4% upon comparison with the data available for imports during same month the previous year.