{"id":2855251,"version":0,"headline":"South Korea’s scrap imports drop in 1H","dateModified":"2026-07-22T07:03:19Z","datePublished":"2026-07-22T07:02:44Z","articleBody":"<article><p class=\"lead\">South Korea's ferrous scrap imports continued to fall in the first half of the year because of lower steel output and a persistent price gap between domestic and seaborne markets.</p><ul><li>The country imported 750,000t of ferrous scrap in January-June, down by 16.5pc from a year earlier, according to Global Trade Tracker.</li><li>Japan remained the top supplier, accounting for 74.5pc of South Korea's imports over the period. Japanese suppliers favoured sales to South Korea because vessel-size rules were more flexible and contracts could be settled in yen, reducing exchange-rate risk.</li><li>South Korean mills have maintained long-term contracts for Japanese scrap but have not been active in the spot market for the past two years. They returned to the seaborne market in late May to secure Japanese scrap after domestic prices had risen for several months, but buying interest faded as prices began to fall in July.</li><li>Imports from the US recorded the steepest decline, with mills avoiding deep-sea bulk cargoes that typically exceed 30,000t per shipment.</li><li>South Korea imported more than 6mn t annually before 2020, then 4-5mn t/yr during 2020-23. Imports dropped below 2mn t in 2025 for the first time in 30 years as demand weakened further.</li><li>South Korea's self-sufficiency rate for ferrous scrap is around 95pc, allowing mills to meet most of their needs domestically and buy seaborne cargoes only for prime-grade material or when overseas prices are competitive.</li><li>The country's steel industry continues to face headwinds from weak construction activity and competition from cheap imported steel products. Scrap demand is likely to remain subdued while steel output stays low. South Korea exported 261,000t of scrap in the first half of the year, mainly to India, Vietnam and Bangladesh.</li></ul><p><table class='tbl-excel'><tr><td class='tbl-header' colspan='3'>South Korea Ferrous Scrap Imports</td><td class='tbl-header tbl-right tbl-italic'>t</td></tr><tr><td class='tbl-columnheader tbl-bold tbl-left tbl-center'>Country</td><td class='tbl-columnheader tbl-bold tbl-right tbl-center'>1H 2026</td><td class='tbl-columnheader tbl-bold tbl-right tbl-center'>% &#177; vs 2H 2025</td><td class='tbl-columnheader tbl-bold tbl-right tbl-center'>% &#177; on year</td></tr><tr><td class='tbl-rowspace' colspan='4'></td></tr><tr><td class='tbl-left'>Japan</td><td class='tbl-right'>558,930</td><td class='tbl-right'>-14.5</td><td class='tbl-right'>-8.6</td></tr><tr><td class='tbl-left'>Thailand</td><td class='tbl-right'>42,467</td><td class='tbl-right'>-7.6</td><td class='tbl-right'>-19.8</td></tr><tr><td class='tbl-left'>US</td><td class='tbl-right'>21,277</td><td class='tbl-right'>-35.4</td><td class='tbl-right'>-82.0</td></tr><tr><td class='tbl-left'>others</td><td class='tbl-right'>127,733</td><td class='tbl-right'>-15.3</td><td class='tbl-right'>9.3</td></tr><tr><td class='tbl-left tbl-bold'>total</td><td class='tbl-right tbl-bold'>750,407</td><td class='tbl-right tbl-bold'>-15.1</td><td class='tbl-right tbl-bold'>-16.5</td></tr><tr><td class='tbl-footer tbl-right tbl-italic' colspan='4'>Source: Global Trade Tracker</td></tr></table></article>","dateline":"Shanghai, 22 July (Argus)","license":"<footer><p><br> Send comments and request more information at <a href=\"mailto:feedback@argusmedia.com?subject=Argus Direct article feedback&body=I am contacting you regarding South Korea’s scrap imports drop in 1H, available at http://direct.argusmedia.com/newsandanalysis/article/cs-24874841.\" target=\"_parent\"> feedback@argusmedia.com </a></p><p><i> Copyright © 2026. <a href=\"http://www.argusmedia.com/\" target=\"_blank\">Argus Media group</a>. All rights reserved. </i></p></footer>","copyrightHolder":"Argus Media group","copyrightYear":2026,"taxonomy":{"contexts":[{"name":"Fundamentals","children":[{"name":"Demand","children":[]},{"name":"Supply","children":[]}]}],"regions":[{"name":"Asia-Pacific","children":[{"name":"Northeast Asia","children":[{"name":"Japan","children":[]},{"name":"South Korea","children":[]}]}]}],"sectors":[{"name":"Metals","children":[{"name":"Scrap","children":[]}]}]},"pullQuote":null,"newsType":"Daily news","language":"en-GB","keywords":null,"isFree":true,"isFeatured":false,"body":"<p class=\"lead\">South Korea's ferrous scrap imports continued to fall in the first half of the year because of lower steel output and a persistent price gap between domestic and seaborne markets.</p><ul><li>The country imported 750,000t of ferrous scrap in January-June, down by 16.5pc from a year earlier, according to Global Trade Tracker.</li><li>Japan remained the top supplier, accounting for 74.5pc of South Korea's imports over the period. Japanese suppliers favoured sales to South Korea because vessel-size rules were more flexible and contracts could be settled in yen, reducing exchange-rate risk.</li><li>South Korean mills have maintained long-term contracts for Japanese scrap but have not been active in the spot market for the past two years. They returned to the seaborne market in late May to secure Japanese scrap after domestic prices had risen for several months, but buying interest faded as prices began to fall in July.</li><li>Imports from the US recorded the steepest decline, with mills avoiding deep-sea bulk cargoes that typically exceed 30,000t per shipment.</li><li>South Korea imported more than 6mn t annually before 2020, then 4-5mn t/yr during 2020-23. Imports dropped below 2mn t in 2025 for the first time in 30 years as demand weakened further.</li><li>South Korea's self-sufficiency rate for ferrous scrap is around 95pc, allowing mills to meet most of their needs domestically and buy seaborne cargoes only for prime-grade material or when overseas prices are competitive.</li><li>The country's steel industry continues to face headwinds from weak construction activity and competition from cheap imported steel products. Scrap demand is likely to remain subdued while steel output stays low. South Korea exported 261,000t of scrap in the first half of the year, mainly to India, Vietnam and Bangladesh.</li></ul><p><table class='tbl-excel'><tr><td class='tbl-header' colspan='3'>South Korea Ferrous Scrap Imports</td><td class='tbl-header tbl-right tbl-italic'>t</td></tr><tr><td class='tbl-columnheader tbl-bold tbl-left tbl-center'>Country</td><td class='tbl-columnheader tbl-bold tbl-right tbl-center'>1H 2026</td><td class='tbl-columnheader tbl-bold tbl-right tbl-center'>% &#177; vs 2H 2025</td><td class='tbl-columnheader tbl-bold tbl-right tbl-center'>% &#177; on year</td></tr><tr><td class='tbl-rowspace' colspan='4'></td></tr><tr><td class='tbl-left'>Japan</td><td class='tbl-right'>558,930</td><td class='tbl-right'>-14.5</td><td class='tbl-right'>-8.6</td></tr><tr><td class='tbl-left'>Thailand</td><td class='tbl-right'>42,467</td><td class='tbl-right'>-7.6</td><td class='tbl-right'>-19.8</td></tr><tr><td class='tbl-left'>US</td><td class='tbl-right'>21,277</td><td class='tbl-right'>-35.4</td><td class='tbl-right'>-82.0</td></tr><tr><td class='tbl-left'>others</td><td class='tbl-right'>127,733</td><td class='tbl-right'>-15.3</td><td class='tbl-right'>9.3</td></tr><tr><td class='tbl-left tbl-bold'>total</td><td class='tbl-right tbl-bold'>750,407</td><td class='tbl-right tbl-bold'>-15.1</td><td class='tbl-right tbl-bold'>-16.5</td></tr><tr><td class='tbl-footer tbl-right tbl-italic' colspan='4'>Source: Global Trade Tracker</td></tr></table>","lead":"South Korea's ferrous scrap imports continued to fall in the first half of the year because of lower steel output and a persistent price gap between domestic and seaborne markets.","cmsId":"24874841","source":"Censhare"}