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South Korean Iron Ore Imports Fall on Lower Australian Shipments

Iron Ore

South Korean iron ore imports dropped to the lowest level in over three and a half years in February at 4.4 Mt, down by 1.6 Mt year-on-year, according to the Tex Report. This decline was primarily due to a sharp 1.2 Mt drop in imports from Australia, to 2.8 Mt, as shipments from the country in February were disrupted by bad weather. As a result, at 10.6 Mt, South Korean iron ore imports from all sources in January-February were down by 1.4 Mt on the same period in 2016.