25 Nov 2013 Last updated at 02:18:54 GMT
TOKYO (Scrap Monster) : According to data, the scrap imports by Korea during the month of October declined year-on-year. Also, the imports have dropped when compared with the previous month.
As per statistics, the total scrap imports by Korea during the month of October this year totaled 714,000 tons. The scrap imports by the country witnessed a sharp decline of 31.2% when compared with the imports during October 2012. On a month-on-month basis, the Korean scrap imports have declined by 3.4%.
The largest import source of scrap by Korea was the US, accounting for more than 38% of the total imports by the country. Out of 714,000 tons, the US accounted for imports totaling 272,000. The scrap imports from the US declined marginally by 1% over the year. In second place was Japan with 266,000 tons. The Korean scrap imports from Japan declined by 43.9% y/y. The scrap imports from Russia fell 26.1% to 60,000 tons during October.
During the initial ten months of the year, the total scrap imports by Korea totaled 7.633 million tons. The scrap imports during the period dropped by 13.1% year-on-year.
During the period from January to October, Korea’s largest scrap import source was Japan. The total scrap imports from Korea amounted to 3.994 million tons, down 3.1% y/y. The second largest exporter of scrap to Korea was the US, with total exports amounting to 1.663 million tons, down 28.2%. Russia was the third largest scrap exporter to Korea during the ten-month period. The total scrap exports from Russia to the country amounted to 847,000 tons, up 9.7% over the corresponding ten-month period in 2012.
Author: Paul Ploumis