South Korea: Iron Ore Imports Down 18% in Feb’19

World's 3rd largest iron ore importer - South Korea has witnessed fall in iron ore and pellet import volumes in Feb’19. The imports witnessed at 5.06 MnT, down 18% as against 6.19 MnT in Jan’19. However, the imports on yearly basis dropped 4% as against 5.26 MnT in Feb’18.

South Korea crude steel production down marginally in Jan’19

South Korea crude steel production for Jan’19 witnessed at 6.21 MnT, down marginally against 6.31 MnT in Jan’18. On monthly basis, output stood stable as against 6.16 MnT in Dec’18.

Agglomerated iron ore (pellets and concentrate) imports in Feb’19 witnessed at 0.33 MnT, down 20% M-o-M as against 0.41 MnT in Jan’19. On yearly basis, imports increased significantly as against 0.13 MnT in Feb’18.

Non-agglomerated iron ore (lumps & fines) imports in Feb’19 recorded at 4.73 MnT, down 18% compared to 5.78 MnT in Jan’19. Imports on yearly premises recorded 8% decline as compared to 5.13 MnT in Feb'18.

South Korea imports from India down 10% in Feb’19

In Feb’19, Australia recorded largest exports to South Korea at 3.66 MnT, contributing 72% of total South Korean exports, down 14% against 4.24 MnT in Jan’19. Brazil stood second largest exporter at 0.67 MnT (down 26% M-o-M) followed by Canada at 0.29 MnT.

South Korean imports of iron ore and pellet from India witnessed drop of 10% to 0.18 MnT as against 0.2 MnT in Jan’19.