Russia in April increased iron and steel supplies to South Korea

Russia in April increased iron and steel supplies to South Korea to the maximum 67.4 thousand tons in almost a year and a half, according to the data of the South Korean statistical service, which was studied by RIA Novosti.

South Korean companies bought 67.4 thousand tons of iron and steel worth $30.3 million from Russian businesses in April, more than triple the level a month earlier in both monetary and physical terms.

Shipments were higher last time in December 2023 at 69.1 thousand tons, while export revenues were higher last February at $32.6 million.

As a result, Russia moved up from fifth to third place among the main suppliers of iron and steel to the South Korean market by the end of April. For several years China remained the leader with 707.5 thousand tons, the second place was traditionally occupied by Japan with 410.5 thousand tons.

In April, South Korea increased its total imports of iron and steel by almost a fifth to 1.4 million tons, the value of these supplies jumped by almost a quarter to 1.1 billion dollars.

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