According to latest trade statistics released by Korean government, the scrap steel exports by the country increased significantly during 2015. The country’s scrap exports during the entire year totaled 418,000 tons, rising sharply by nearly 41% when matched with the previous year.
The exports have increased significantly by 40.9% when compared with the country’s scrap exports during 2014. Korea had exported 297,000 tons of scrap during entire year 2014. The scrap steel exports by the country has recorded second consecutive year of increase during 2015. The exports had increased during 2014 also. Also, 2015 exports are the highest export level recorded by the country since 2010.
The largest destination of exported scrap from Korea during last year was India. The scrap imports by India from Korea totaled 113,100 tons during the year, accounting for nearly 27% of the total scrap shipments out of Korea. The exports to India surged higher by nearly 131% over the previous year.
The second largest importer of scrap from Korea was China. The imports by the country totaled 112,700 tons during the year. The scrap exports to China were up by 7.9% year-on-year. China accounted for 26.9% share of Korean scrap steel exports. In third place was Japan with 64,500 tons. The steel scrap exports by the country to Japan declined by almost 12% in 2015when matched with the previous year. The exports to Japan accounted for 15% of the Korean exports during the year.
Source: Metal.com