South Korea's iron ore imports logged a robust month-on-month rise of 23.73% to 6.07 million tonnes in July, which fell 10.36% year on year, customs data showed.
Iron ore shipments from its largest supplier Australia dropped 6.34% from July, 2019 to 4.67 million tonnes in the same month of 2020, yet it was 12.86% higher compared with the month-ago level.
Shipments from South Africa were 581,3000 tonnes, surging 2.9 times YoY and 3.5 times MoM.
Iron ore imports from Brazil plummeted 56.45% from the year prior to 423,900 tonnes in July, marking a month-on-month drop of 5.55%
The nation shipped 386,600 tonnes of iron ore from Canada, down 26.06 YoY, but exploding 162% MoM.
In July, South Korea's iron ore imports were worth $553 million, down 15.46% year on year, but up 29.15% month on month. The average import price was thus calculated at $91.13/t, up 4.38% MoM.
In the first seven months of 2020, the nation spent $3.54 billion for iron ore imports with a year-on-year decrease of 3.33%.
South Korea's total iron ore imports in the year to July stood at 38.81 million tonnes, down 8.44% year on year. Australia contributed most with 29.46 million tonnes, down 5.11% year on year.
(Writing by Rebecca Liu Editing by Tammy Yang)
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