Korea's cash-cow zinc ore export in the non-ferrous metal industry decreased this year, but other scopes like electrolytic copper, aluminum alloy ore, and lead ore rose their exports contributing to the overall export improvement. On the other hand, nickel import grew, but aluminum pure ore import decreased, resulting in an overall drop in the non-ferrous metal raw materials import. This can be construed that the non-ferrous metal exports improvement was due largely to the balloon effect from the subdued consumption at the domestic market.
According to the statistics complied by the Korea International Trade Association, Korea’s six raw materials of non-ferrous metals consisted of electrolytic copper, aluminum, zinc, lead, nickel and tin exports was upward by 3.4 percent through April this year, but their import was down 4.7 percent from a year ago, while the zinc exports weighed largest share of entire non-ferrous metal exports were down 12.0 percent. The decrease was largely attributed to the fire occurred at Korea Zinc Onsan-based refinery in February, ensuing a stoppage in operation over 10 days.
On the contrary, lead exports hiked thanks to the production growth, launching the overseas markets, and instability of 4N(over 99.99% concentrate) supply. Electrolytic copper exports were led by exports shipped to China, while domestic producers were busy to ship to Vietnam.
In case of import, nickel alone increased import while the other categories including nickel downed imports. Aluminum pure ore accounted for over half the entire non-ferrous metal imports grew 6.6 percent in import, while domestic market still depends upon the imports coped with the cuts of domestic production. Nickel import increased because of the LME nickel price hikes, rather than due to the hiked domestic consumption. In respect of the non-ferrous scrap, copper and aluminum scrap missed each other in terms of import trend. Copper scrap increased centering the quality bundles while aluminum scrap imports continued gnawed in tandem with the steady rise in domestic production.
Source: Steel&Metal News |
