According to provisional customs data, South Korea imported 0.65 million mt of ferrous scrap in February 2019, up 10 percent from 0.59 million mt that was imported in January 2019. The February level is the highest in the past 12 months. The monthly average in 2018 was 0.51 million mt with the highest single month at 0.61 million mt in June.
Sources inform SteelOrbis though that Hyundai Steel, one of South Korea’s largest steel mills, is discontinuing the purchase of Japanese scrap in the spot market for the remainder of March due to high scrap inventories.