Friday 01 November 2024 - 09:56

Date: 28 November 2018 , 01:33

News ID: 2733

NEWS SERVICE: MINES and MINERALS

South Korea: Iron Ore Imports Up 20% in Oct’18

World's 3rd largest iron ore importer - South Korea has witnessed rise in iron ore import volumes in Oct’18. The imports witnessed at 6.13 MnT, up 20% as against 5.09 MnT in Sep’18.

On yearly basis, the Oct’18 imports stood in line with Oct’17 imports at 6.14 MnT.

For CY’18 (Jan-Oct’18), the total imports witnessed at 59.87, almost in line with 60.28 MnT in Jan-Oct’17.

South Korea crude steel production increased in Oct’18

South Korea crude steel production for the month of Oct'18 witnessed at 6.19 MnT, up 6% as against 5.85 MnT a month ago.

Agglomerated iron ore (pellets and concentrate) imports in Oct'18 witnessed at 0.54 MnT, up more than three folds M-o-M as against 0.17 MnT in Sep18. On yearly basis, imports recorded decline of 11% as against Oct'17 imports at 0.61 MnT.

Non-agglomerated iron ore (lumps & fines) imports in Oct'18 recorded at 5.59 MnT, up 14% on monthly basis compared to 4.92 MnT in last month. The imports on yearly premises recorded almost stable as compared to 5.53 MnT in Oct'17.

Australian iron ore exports to South Korea up 25% in Oct’18

In Oct'18, Australian exports recorded at 4.06 MnT, contributing 66% of total South Korean exports for the month. The exports increased 25% M-o-M, followed by Brazil at 0.96 MnT (up 20% M-o-M).

The imports from South Africa witnessed 47% fall at 0.42 MnT, due to port maintenance at South Africa for about half of the month. However, Imports from Canada and India increased significantly to 0.39 MnT (up more than two folds) and 0.2 MnT (up two folds on monthly basis) respectively.