South Korea’s scrap exports to China soar by 565%

South Korea's scrap exports to China soar by 565%

According to data from the Korean Customs Administration, the export volume of Korean steel scrap turned upward in October and is expected to exceed 400,000 tons by the end of the year. South Korea’s total steel scrap exports in October were 27,000 tons, a year-on-year increase of 9.7% and a month-on-month increase of 24%.

India is one of the major exporters of South Korea’s scrap steel, and its export volume has soared to 10,000 tons. The second place in Thailand, where the export volume of scrap steel increased sharply within three months, increasing by 45% from the previous month to 5,000 tons. This resulted in year-on-year growth of 68.5% in total scrap exports from January to October, totaling 343,000 tons. The monthly average export volume is 34,000 tons, and the annual average is close to 410,000 tons.

In October, South Korea exported a total of 109,000 tons of scrap steel to India, accounting for 32% of all scrap exports. The growth rate is 47.7%. The export of scrap steel to China soared by 565%, totaling 96,000 tons, with an export share of 28.1%, ranking second. The export volume to Thailand ranked third, with a year-on-year increase of 75.2%, totaling 50,000 tons, accounting for 14.6% of the total export volume. (Source: Tang Song Express)

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