South Korea's ferrous scrap imports decreased by 46% in August

In August 2024, South Korea's ferrous scrap imports decreased to 148,768 tons, down by 11% from the 166,372 tons imported in July. This figure represents a 46% drop from the 277,603 tons recorded in August 2023.

Total scrap imports in the January-August 2024 period decreased by 50% from 2.59 million tons to 1.30 million tons compared to the same period last year.

Japan remained the largest supplier in August, accounting for around 84% of South Korea's scrap imports. Russia and the United States ranked second and third, respectively. The ranking of the top three countries exporting ferrous scrap to South Korea in July remained unchanged in August.