South Korea’s ferrous scrap imports slide in Nov m-o-m due to weak demand
Time:Fri, 07 Jan 2022 06:52:40 +0800
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According to statistics, South Korea's ferrous scrap imports totaled 385,000 tons in November 2021, falling by 6.1% compared to the previous month, which hit a new low since May. The month-on-month decrease in imports was due to weak demand in the domestic market and the continued rising prices. However, the import volume in November was up by 24.8% year on year.
Among the imports in November, Japan was still the largest source, totaling around 232,100 tons, a month-on-month decrease of 5.2%, due to strong demand in Japan’s domestic market.
The US ranked second with roughly 41,500 tons, down by 23.2% month on month; followed by Russia’s 59,600 tons, 26.5% lower than the volume in the previous month.
In the first 11 months of 2021, South Korea’s ferrous scrap imports amounted to 4.3 million tons, growing by 8% year on year.
