South Korea: Scrap arrivals fall w-o-w, but Hyundai Steel's imports up

South Korea, one of the major scrap-buying countries in the Far East Asia region, saw a fall in its weekly scrap arrivals at its major ports, as per SteelDaily reports. The volumes were recorded at 108,539 tonnes (t) this week, down about 20,000 t from last week. However, Hyundai Steel's scrap imports have increased this week.

Company-wise imports-

Hyundai Steel: The steel major imported a total of 36,588 t this week - 4,000 t for Incheon works,17,038 t for the Dangjin factory, and 15,550 t for the Pohang plant. These were the highest volumes since last November.

Dongkuk Steel: Dongkuk Steel imported a total of 27,400 t of scrap at Incheon Port. Over the past three weeks, large motherships have been brought in through Australia and New Zealand, so the reported volume has decreased significantly compared to the previous week.

SeAH Besteel and POSCO: SeAH Besteel imported 26,851 t of scrap at Gunsan Port, and POSCO brought in 2,000 t each at Gwangyang and Pohang.

At Busan Port, Daehan Steel brought in 12,000 t, and at Masan Port, Korea Steel brought in 1,700 t.

Grade wise imports: High quality scrap grade including 18,091 t of shredded and 18,049 t of shindachi has arrived, whereas, HS scrap is at 12,580 t, and H2 is at 12,719 t. The remaining volume is of low grade scrap.

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