Korea's steel scrap exports keep decline over a few months last leading to 171, 541 metric tons through August this year, down 44.6 percent a year ago, under the Korea Iron and Steel Association. By destination, export toward China, Taiwan and Vietnam which comprise of Korea’s major export market in scrap showed decrease over a course of this year. Export to China was 31,164 tons, down 49.2 percent, while to Taiwan the slippage of 76.8 percent led to 13,823 tons through August. Korea exported scrap to Vietnam by a 10.5 percent year on year decrease totaling 116,758 tons.
Overseas scrap experts said that the decrease was resulted from the loss of scrap price competitiveness as well as deteriorated trading terms. However, Korea will be able to turn to the scrap exporting country only if 100 percent self-supplying environment is materialized in the future, they predicted.
Meanwhile, the August scrap exports plunged 57.1 percent to 14,221 tons over a year ago, of which export headed to China plummeted 81.4 percent to 1,518 tons, and to Taiwan down 34.8 percent to 3,221 tons and to Vietnam down 93.5 percent to 321 tons respectively.
Source: Steel&Metal |
