South Korea’s copper scrap imports dipped by 31pc to 22,706mt in January compared to same period last year when 33,087mt scrap was imported, while it dropped by 7pc compared to previous month, i.e. December 2020 when 24,429mt was imported.
South Korea’s total copper scrap imports in 2020 stood at 334,208, marginally lower from 2019 when the country brought in 355,382mt scrap.
| South Korea Copper Scrap Import in Jan’21 (in mt) | |||||
|---|---|---|---|---|---|
| Exporting Country | Jan’21 | Dec’20 | Change M-o-M | Jan’20 | Change Y-o-Y |
| United States | 4,208 | 6,624 | -36pc | 9,116 | -54pc |
| Saudi Arabia | 1,986 | 890 | 123pc | 2,175 | -9pc |
| Taiwan | 1,447 | 1,395 | 4pc | 1,085 | 33pc |
| Philippines | 1,437 | 1,177 | 22pc | 1,483 | -3pc |
| Malaysia | 1,280 | 695 | 84pc | 1,564 | -18pc |
| Thailand | 1,075 | 826 | 30pc | 563 | 91pc |
| Japan | 1,049 | 1,440 | -27pc | 1,166 | -10pc |
| United Arab Emirates | 1,045 | 466 | 125pc | 761 | 37pc |
| Indonesia | 815 | 1,114 | -27pc | 1,085 | -25pc |
| Others | 8,364 | 9,804 | -15pc | 14,090 | -41pc |
| Total | 22,706 | 24,429 | -7pc | 33,087 | -31pc |
In January 2021, Imports from Saudi Arabia and the UAE saw a surge of 123pc and 125pc, respectively, from December 2020. Scrap imports from Taiwan, the Philippines, Malaysa and Thailand also increased in January compared to December, while imports from the US, Japan, Indonesia and other countries saw negative growth.
Imports from the US dropped by 54pc to 4,208mt from prior-year period while it decreased by 36pc from the prior month. In spite of this, the US remains the largest contributor to South Korea’s copper scrap imports, followed by Saudi Arabia (1,986mt).