South Korean Iron Ore Imports Fall
South Korean iron ore imports dropped by 0.7 Mt year-on-year to 6.1 Mt in July, according to preliminary data from Korea Customs Service (KCS). Receipts of Australian product declined by 0.3 Mt to 4.7 Mt, while those from Brazil more than halved to 0.4 Mt. However, imports of South African iron ore inched up to 0.6 Mt (+0.4 Mt).
The country’s iron ore receipts have posted annual declines in each consecutive month since May, bringing year-to-date imports down by 3.6 Mt to 38.8 Mt.