South Korea’s scrap imports drop in Aug y-o-y
Time:Fri, 09 Sep 2022 09:44:07 +0800
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In August, South Korea’s scrap imports were about 270,000 tons, decreasing by 45% year on year, due to a drop in the domestic scrap prices, which led to a lower volume of new import orders in June and July.
Among them, the imports from Japan dropped by 43.7% year on year to 203,000 tons, accounting for 75% of total South Korea’s scrap imports. Meanwhile, Russia and the US exported around 8,000 tons and 47,000 tons of scrap to South Korea, plunging by 90% and up by 15.2% year on year, respectively.
In the first eight months, South Korea imported scrap with 3.07 million tons, growing by 7.7% from the same period last year. The increasing volume might be caused by rising domestic prices in the first half year, which further increased imports.
