South Korea: Iron Ore and Pellet Imports Up Marginally in CY18

World's 3rd largest iron ore importer - South Korea has witnessed rise in iron ore and pellet import volumes in CY18. The imports witnessed at 73.16 MnT, up marginally as against 72.43 MnT in CY17.

However, the imports for the month of Dec'18 witnessed at 5.97 MnT, down 19% as against 7.33 MnT a month ago. On yearly basis, imports have dropped by 3% as against Dec'17 imports at 6.15 MnT.

South Korea crude steel production up in Jan-Nov'18

South Korea crude steel production for Jan-Nov'18 recorded at 66.14 MnT, up marginally against 64.95 MnT for same duration CY17(Jan-Nov'17).

Agglomerated iron ore (pellets and concentrate) imports in CY18 witnessed at 4.1 MnT, up 3% Y-o-Y as against 3.99 MnT in CY17. On monthly basis, imports dropped 38% to 0.29 MnT in Dec'18 as against Nov'18 imports at 0.47 MnT.

Non-agglomerated iron ore (lumps & fines) imports in CY'18 recorded at 69.06 MnT, up slightly compared to 68.44 MnT in CY17. Imports on monthly premises recorded 17% fall at 5.67 MnT in Dec'18, as compared to 6.86 MnT in Nov'18.

Australian iron ore exports to South Korea up in CY'18

In CY'18, Australian exports recorded at 51.9 MnT, contributing 71% of total South Korean exports, up slightly against 51.03 MnT in CY17. Brazil stood second largest exporter at 10.57 MnT (down 3% Y-o-Y) followed by South Africa at 4.76 MnT (up 2% on yearly basis).

Indian iron ore and pellet exports witnessed rise of 13% to 1.12 MnT as against 0.99 MnT in CY17. Indian pellet manufacturer in the CY'18 looked non-Chinese market for exports.

In Dec'18, Australia continued to be largest exporter at 4.18 MnT, down 22% on monthly basis followed by Brazil at 0.77 MnT. Imports from South Africa and Canada witnessed increase to 0.41 MnT and 0.44 MnT respectively.

South Korea Country wise import for CY'18 v/s CY'17

Quantity in MnT
Source: South Korea Customs
Provisional Data