South Korea, one of the leading aluminium scrap importers in the world, imports aluminium scrap and recycles them for making aluminium alloys. The country’s automotive sector is a major consumer of aluminium products. South Korea imported about 736338 tonnes of aluminium scrap from the global market in 2017.
South Korea has been importing a major chunk of aluminium scrap from the USA and Japan. The country imported about 175557 tonnes and 89151 tonnes of aluminium scrap from the USA and Japan in 2017. Aluminium scrap export from Japan to South Korea declined in March last year. The export was reduced as South Korean prosecutors had started an investigation on the aluminium procurement practices of Hyundai Motor Group and aluminium alloy suppliers. In 2018, South Korea’s aluminium scrap imports from Japan is estimated to increase to 117077 tonnes.
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According to recent estimates, in the year 2016, South Korea imported 714619 tonnes of aluminium scrap. The cost of import was USD 896 million for the same amount. In the year 2017, the amount increased to 736338 tonnes and the cost of import stood at USD 882 million.
South Korea’s import of aluminium scrap is estimated to fall this year. In the year 2018, the country is estimated to import 696686 tonnes of aluminium scrap and the cost of import is estimated to stand at USD 803 million.
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