01 Apr 2014 Last updated at 03:08:23 GMT
SEOUL (Scrap Monster): The scrap imports by South Korea witnessed steep decline during the month of February, as per the latest trade data released by the Ministry. The scrap imports by South Korea totaled 703,000 tons during the month, 13.3% lower when compared with the imports during same month the previous year. The scrap imports during February hit the worst level in past six months.
The largest import source of scrap by South Korea was Japan. The total scrap imports from Japan amounted to 345,000 tons, accounting for nearly 50% of the total imports by South Korea during the month. The scrap imports from Japan dropped by 38% in February over the year.
In second place was the US. The scrap exports by the US to South Korea totaled 181,000 tons. The South Korean imports from the US were up 46% in February this year when compared with the imports during Feb ’13.
The total scrap imports by South Korea during the period from January to February this year amounted to 1.63 million tons. The scrap imports during the two-month period were higher by 11% when compared with the imports during the similar two-month period in 2013.
Author: Paul Ploumis