South Korea: Ferrous scrap imports rise for 2nd straight week amid increased influx from Russia

• Ferrous scrap imports surge 51.76% w-o-w
  
  
• Hyundai Steel's Russian scrap imports rise
  
  

SteelDaily: South Korea's major ports reported 42,500 tonnes (t) of fresh steel scrap arrivals this week, marking an increase of 14,496 t or 51.76% from the previous week. The country's ferrous scrap imports have risen for two consecutive weeks now.

The overall rise in steel scrap imports over the past two weeks is mainly due to the increased influx of Russian steel scrap. This surge has led to a higher proportion of steel rebar manufacturers relying on this supply for production.

Notably, the share of imports from special steel plate companies dropped by 6.8 percentage points w-o-w from 52.7% to 45.9%. This decline is mainly due to the increased arrival of Russian steel scrap; Hyundai Steel, in particular, substantially raised its intake.

Company-wise arrivals

• Hyundai Steel - 12,000 t of steel scrap at Pohang.
  
  
• Dongkuk Steel - 3,000 t of steel scrap at Incheon and 4,000 t at Masan Port.
  
  
• SeAH Besteel - 11,000 t of special steel sheet imports at Gunsan Port.
  
  
• Daehan Steel - 4,000 t of scrap at Busan.
  
  
• POSCO - 8,500 t at Pohang and nil imports at Gwangyang Port.
  
  

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