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South Korea's Steel and Scrap Exports Fell Slightly in July

South Korea's Steel and Scrap Exports Fell Slightly in July

  According to data released recently by the Korea Iron and Steel Association, Korean steel and scrap exports fell by 4.8% year-on-year in July, totaling 2,726,800 tons; imports increased by 21.6% year-on-year to 2.15 million tons.

  In July, South Korea’s steel and scrap exports to Japan were 370,000 tons, up 3.9% year-on-year; exports to China fell 6.7% year-on-year to 325,000 tons, due to investment in infrastructure construction and housing construction. The growth (down by 4.1% and 10.1% respectively), China's steel companies mainly focus on production at home.

  In July, South Korea’s exports of steel and scrap to ASEAN and EU countries increased, with exports to ASEAN increasing by 3.8% to 593,300 tons and exports to the EU increasing by 4.2% to 413,900 tons. The geographical risks caused by the tension in Iran have cast a shadow over the Middle East export market. In July, South Korea’s steel and scrap exports to the Middle East market decreased by 37.2% year-on-year to 102,800 tons.

  In July, South Korea’s imports of steel and scrap from China increased by 35% year-on-year to 780,300 tons. (source from China Metallurgical News)

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