South Korea: Iron Ore Imports down 7% in Q1 CY'18
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South Korea witnessed slight decline in imports in Q1 CY'18. It recorded imports at 17.02 MnT compared to 18.28 MnT in Q4 CY'17. However, Q1 CY18 imports marked stability as against imports in Q1 CY'17 at 17.21 MnT.
South Korea has witnessed rise in imports in Mar'18. It recorded imports at 5.54 MnT, up marginally as against 5.26 MnT in Feb'18. However, the Y-o-Y imports witnessed decline in Mar'18 by 17% as against 6.65 MnT in Mar'17.
Agglomerated iron ore (pellets and concentrate) imports in Q1 CY'18 witnessed at 1.09 MnT, down 17% as compared to 1.32 MnT in Q4 CY'17. In Mar'18, imports increased by four fold to 0.56 MnT as against 0.13 MnT in Feb'18.
A non-agglomerated iron ore (lumps & fines) imports in Q1 CY'18 recorded at 15.94 MnT, down marginally against 16.95 MnT in Q4 CY'17. In Mar'18, the imports were at 4.98 MnT almost stable on monthly basis against 5.13 MnT in Feb'18.
India's exports to South Korea recorded increase to more than two fold Q-o-Q:
Australia continued to remain the largest iron ore exporter to South Korea for first quarter CY'18 at 11.51 MnT (down 8% Q-o-Q), followed by Brazil at 2.61 MnT (down 22% on quarterly basis) and South Africa at 1.36 MnT (up 48% Q-o-Q).
Imports from Chile and India witnessed a significant rise in Q1 CY'18. Chile exported 0.52 MnT (up by around seven fold).
Indian exports recorded at 0.28 MnT, up by more than two fold as against 0.12 MnT in Q4 CY'17.
In Mar'18, Australia continued to be the largest exporter of iron ore to South Korea at 3.59 MnT, down 14% M-o-M (contributing 65% of total import share), followed by South Africa at 0.74 MnT (up by more than four folds M-o-M), and Brazil at 0.56 MnT (Stable M-o-M).
South Korea's iron ore imports from India recorded increase of 63% M-o-M in Mar'18 to 0.13 MnT as against 0.08 MnT in Feb'18.
Imports from Chile and Ukraine recorded at 0.2 MnT and 0.18 MnT respectively against nil imports a month before.
South Korea Country wise import for Q1 CY'18 v/s Q4 CY'17
| Country | Mar-18 | Feb-18 | M-o-M (%) | Q1 CY'18 | Q4 CY'17 | Q-o-Q (%) |
| Australia | 3.59 | 4.18 | -14% | 11.51 | 12.49 | -8% |
| South Africa | 0.74 | 0.17 | 335% | 1.36 | 0.92 | 48% |
| Brazil | 0.56 | 0.55 | 2% | 2.61 | 3.35 | -22% |
| Chile | 0.20 | 0.00 | 100% | 0.52 | 0.07 | 643% |
| Ukraine | 0.18 | 0.00 | 100% | 0.18 | 0.34 | -47% |
| Canada | 0.14 | 0.28 | -50% | 0.57 | 0.89 | -36% |
| India | 0.13 | 0.08 | 63% | 0.28 | 0.12 | 133% |
| Finland | - | - | - | - | 0.09 | -100% |
| Grand Total | 5.54 | 5.26 | 5% | 17.02 | 18.28 | -7% |
Quantity in MnT
Source: South Korea Customs
Provisional Data
