Scrap arrivals into South Korea fall w-o-w

South Korea, one of the major scrap buying countries in the Far East Asia region, witnessed a sharp fall in imports w-o-w during the first week of 2023 (29 December 2022-4 January 2023), as per SteelDaily reports. A total of 69,661 tonnes (t) of scrap of various grades arrived into the country of which shredded was at 8,856 t, shindachi at 16,955 t, HS at 4,000 t and H2 at 9,050 t.

Company-wise imports-

Hyundai Steel: Hyundai Steel's shipments are reported to be less than half of the last week's volume. The company brought in a total of 17,050 t of scrap, of which 4,000 t arrived at Dangjin Port and 13,050 t at Pohang Port. Surprisingly, no cargoes arrived at Incheon Port.

Dongkuk Steel: Dongkuk Steel imported 12,800 t from Incheon Port alone, a significant fall w-o-w compared to imports volumes in the last week of December 2022 which saw a drastic increase due to the arrival of large mother ships.

SeAH Besteel: SeAH Besteel's scrap import volumes were largely stable w-o-w. The company sourced 21,811 t that came to Gunsan Port.

Meanwhile, POSCO has been showing low import volumes since October 2022. Last week, only 2,000 t of scrap was brought in by the company at Gwangyang Port. Daehan Steel imported 16,000 t from Busan Port. YK Steel's imports remained nil.

Note: This article has been published in accordance with an article exchange agreement between SteelDaily and SteelMint.