South Korea’s copper scrap imports rose by 10 pc in November from the prior year.
South Korea imported 32,977mt of copper scrap in November, up by 3,153mt from the same month in the previous year.
In November, the largest share of copper scrap imports into South Korea came from the US at 8,836mt, followed by Saudi Arabia at 2,626mt.
South Korea is the highest copper scrap importer in Asia, after China.
South Korea imported 371,340mt of copper scrap, as against 2mn mt imported by China from Jan-Sep.
Globally, Korea is the third highest importer, with China first. Germany is the second highest scrap importer in the world, with imports at 642,481mt for Jan-Sep.
With China restricting its copper scrap imports in the last six months, neighbouring markets such as South Korea, Malaysia and India have become more attractive for US and European sellers.