Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Ferrous scrap exports from South Korea increased by 100pc to 188,488mt  in January-May from 94,141mt in the same period of 2020, according to the country’s Customs data. South Korea’s ferrous scrap imports during the same period under comparison fell by 17.9pc to 1.69mn mt from 2.06mn mt.  


In May, ferrous scrap exports increased by 123pc to 47,107mt from 21,163mt in the same month of the previous year, according to the Customs data. Imports rose by 11pc to 378,149mt from 341,200mt in the same timeframe. 


China was South Korea’s biggest ferrous scrap importer with cargoes to China from South Korea growing by 829pc to 18,184mt in May from 1,957mt last year.  India, which was the top importer of ferrous scrap in May 2020, fell to second place despite a 297pc increase in cargoes to 14,890mt compared to 3,754mt in May 2020. 


Exports from South Korea to Vietnam fell by 80pc to 603mt last month from 3,007mt in May 2020 while Malaysia’s imports from the country declined by 42pc to 866mt from 1,489mt during the same period. 


At 220,865mt, Japan  remained  the largest ferrous scrap exporter to South Korea last month, despite a 15pc fall from 259,569mt in May 2020. The Philippines recorded the highest increase in ferrous scrap export volumes to South Korea, with a 1213pc increase to 1,777mt in May from 135mt in the same month last year. Australian ferrous scrap exports to South Korea were the lowest at 1,423mt in May, down 12pc during the same period. 

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