South Korea: Iron Ore Imports Up 25% in August

World's 3rd largest iron ore importer -South Korea iron ore imports for the month of Aug'18 recorded at 7.13 MnT. The imports witnessed rise of 25% on monthly basis as against 5.7 MnT in July'18. On yearly basis, the imports in Aug'18 recorded 12% increase compared to Aug'17 imports at 6.36 MnT.

South Korea crude steel production recorded at 6.18 MnT in July'18 as compared to 6.12 MnT in June'18.

For the duration Jan-Aug'18, the total imports by the country recorded at 48.64 MnT, up by 3% as against last year same duration (Jan-Aug'17) at 47.13 MnT.

Non-agglomerated iron ore (lumps & fines) imports in Aug'18 marked a rise of 25% to 6.74 MnT as against 5.39 MnT in July'18. On yearly basis, imports recorded increase of 15% as against Aug'17 imports at 5.86 MnT.

Agglomerated iron ore (pellets and concentrate) imports in Aug'18 increased by 26% to 0.39 MnT as against 0.31 MnT in July'18. However, imports on yearly premises recorded a 22% of decline as compared to 0.5 MnT in Aug'17.

Australian Iron ore exports to South Korea up 38% M-o-M

In Aug'18, Australian exports recorded at 5.34 MnT, up 38% M-o-M as against 3.88 MnT in July'18, followed by Brazil at 1.4 MnT and Canada at 0.15 MnT. Indian iron ore exports in Aug'18 recorded at 0.05 MnT, as against being nil a month before.

US and Ukraine exports witnessed at 0.13 MnT and 0.06 MnT respectively in Aug'18 against nil exports in July'18.

South Korea Country wise import for Aug'18 v/s July'18

Quantity in MnT
Source: South Korea Customs
Provisional Data