SOUTH KOREA May 13 2016 4:34 PM

SEOUL (Scrap Register): Korean ferrous scrap imports during March this year crossed 400,000 tons for the first time since October 2015. Country has imported 488,000 tons of ferrous scrap during March, an increase of 31.2% as compared to 372,000 tons March last year, ministry informed.

Japan was the largest steel scrap exporter to Korea during March with 274,000 tons, which accounted 56% of the country’s total scrap imports. The scrap imports from Japan during March were up by 12.5% year-on-year.

US was the second biggest exporter of ferrous scrap to Korea during March with 92,000 tons, a sharp increase of 547.7% compared to March last year.The top two scrap exporters to Korea accounted for nearly 70% of the total imports by the country during the month.