South Korea: Ferrous scrap imports increase by 15,000 t w-o-w

South Korea's ferrous scrap imports were recorded at 111,333 t this week, increasing by 15,000 t from the previous week.

Company wise imports

• Hyundai Steel: Hyundai Steel was the largest scrap importer, bringing in a significant volume this week too. The company imported a total of 49,833 t - 27,833 t for Incheon and 22,000 t for Pohang. Import volumes increased by 11,000 t from the previous week. Since March, the company has been actively procuring ferrous scrap from Japan, and it seems that the secured supplies are arriving one after another.
  
  
• Dongkuk Steel: Dongkuk Steel imported 19,500 t for Incheon plant. Compared to the recent record of nearly 30,000 t last week, the volume brought in this week saw a slight decline of about 3,000 t.
  
  
• POSCO: POSCO brought in 16,000 t of scrap - 8,000 t each for Pohang and Gwangyang works. In addition, it has been importing Hot-Briquetted Iron (HBI) for the last few weeks. POSCO imported 35,000 t of HBI for the Pohang plant this week. The material came from Qatar.
  
  
• SeAH BeSteel: SeAH BeSteel imported 10,000 t of scrap and the material arrived at Gunsan Port. The company had been bringing in about or more than 20,000 t of scrap every week until April. However, since then, there has been a slight decline in the reported arrivals in May.
  
  
• Daehan Steel: Daehan Steel brought in 10,500 t of scrap and the material arrived at Busan Port.
  
  
• YK Steel: The company brought in 5,500 t of scrap this week from Busan Port.
  
  

Grade-wise scrap imports

Shredded scrap accounted for 12.8% of the total volume at 14,247 t and shindachi accounted for 4.5% of the total at 5,000 t. About 5,500 t of HMS has been imported. Most materials for Hyundai Steel's Pohang plant came from Russia.

The proportion of HS also increased from the previous week to 13,994 t, accounting for 12.6% of the total volume imported this week while 21,092 t of H2 scrap was brought in, accounting for 18.9% of the total.

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