Korean scrap imports increased 5.7% in 2017

According to data from the Korea Iron and Steel Institute, scrap imports by South Korea increased by 5.7% in 2017, reaching to 6.176 million tons. In FY 2017, Korea imported scrap from the United States decreased by 42.1% to 515,000 tons while scrap imported from Japan increased by 17.4% to 4.014 million tons. However, the December 2017’s data, Korean scrap imports increased by 16.0% to 628,000 tonnes YoY, of which imports of scrap from Japan increased by 13.3% YoY to 404,000 tonnes and imports of scrap from Russia increased 16.8% to 119,000 tons YoY.