South Korea: Fresh scrap arrivals down w-o-w by over 40%

This week, the influx of new iron scrap into South Korea plummeted by more than 41%, dropping to 29,600 tonnes (t) from the previous week's 50,200 t. It may be noted here that this week's arrivals also included domestically sourced scrap transported by sea, which means that the actual volume of fresh scrap entering Korea is even lower.

Company-wise scrap arrivals

Hyundai Steel: Hyundai Steel's new iron scrap arrivals rose 11% w-o-w to 18,300 t. Out of total arrivals, 5,500 t were brought from the Incheon port followed by 8,300 t from Dangjin port and 4,300 t from Pohang port, respectively.

Dongkuk Steel: New iron scrap arrivals for Dongkuk Steel dropped significantly from 14,000 t last week to a mere 4,300 t this week. Notably, the entire volume was sourced from the Incheon port.

SeAH Steel: SeAH Steel's new iron scrap arrival was assessed at 5,000 t, down by 29% as against 7,000 t seen in the previous week. The entire volume was brought from the Gunsan port.

POSCO: Steel giant POSCO procured 2,000 t of new iron scrap from the Gwangyang port. Notably, POSCO's new scrap arrival has been below 10,000 t for the last three consecutive weeks.

Grade-wise sourcing

Shredded and shindachi scraps stood at 5,500 t and 5,000 t, accounting for 18.6% and 16.9% out of total new scrap arrivals, respectively. HS comprised 6.8% of the total volume at 2,000 t, while Russian HMS accounted for a significant 21.3% of the total volume at 6,300 t.

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