South Korea's scrap exports to China soared by 565%
According to the data of the General Administration of Customs of South Korea, the export volume of scrap steel in South Korea turned upward in October and is expected to exceed 400000 tons by the end of the year. In October, South Korea's total scrap export was 27000 tons, a year-on-year increase of 9.7% and a month on month increase of 24%.
India is one of the major countries exporting scrap steel from South Korea, and the export volume of scrap steel soared to 10000 tons. The second place is Thailand. The export volume of scrap steel surged in three months, with a month-on-month increase of 45% to 5000 tons. This led to a year-on-year increase of 68.5% in the total export of scrap steel from January to October, totaling 343000 tons. The average monthly export volume is 34000 tons, with an average annual output of nearly 410000 tons.
In October, South Korea exported 109000 tons of scrap to India, accounting for 32% of all scrap exports. The growth rate was 47.7%. Scrap exports to China soared by 565%, totalling 96000 tons, with an export share of 28.1%, ranking second. The export volume to Thailand ranked third, with a year-on-year increase of 75.2%, totaling 50000 tons, accounting for 14.6% of the total export volume.