South Korea: Ferrous scrap arrivals at major ports down by nearly 10% w-o-w

A total of 68,050 tonnes (t) of steel scrap were reported for new arrivals at major ports this week, reflecting a notable decrease of 9% compared to last week. The unloading of arriving scrap is experiencing delays, which is also causing a delay in the notification of new arrivals.

Company-wise scrap arrivals

Hyundai Steel: Hyundai Steel has reported new shipments of 2,000 t and 3,000 t respectively at Incheon and Dangjin, totalling 5,000 t. However, a significant portion of the 30,000 t of materials reported to have arrived at the port last week is currently on standby and has not been unloaded yet.

Dongkuk Steel: Dongkuk Steel has reported the arrival of 18,000 t of new cargo in Incheon alone, which represents a decrease of approximately 5,000 t compared to the previous week.

SeAH Besteel: SeAH Besteel, which had no new port arrivals last week, has reported the arrival of 29,100 t at Gunsan port.

POSCO: POSCO has reported 7,300 t of cargo entering Pohang alone. Despite the overall decrease in the volume of incoming ports, the volume of plate special steel companies has witnessed a significant increase, accounting for 53.5% of the total volume.

Arrivals at Busan and Masan ports

In Busan, YK Steel has reported the arrival of 2,000 t, Daehan Steel has reported 3,000 t, and SeAH Changwon Special Steel has reported 3,650 t of iron scrap arriving at the port in Masan.

Grade-wise distribution

These figures show scrap arrivals in terms of different grades.

In terms of grade, shredded imports have reached 13,600 t, accounting for 20% of the total, which marks a significant increase compared to the previous week. Shindachi accounts for 18.1% with 12,300 t, while HS represents only 2.9% with 2,000 t.

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