(Detailed analysis)
In terms of volume, June single month shipment increased for the third consecutive month to 4,469 tons, up 129% from previous month and 118% from same month last year, while January-June total shipment were 21,724 tons, up 105% from same period last year. By major export destination, shipments to South Korea declined slightly to 680 tons, 99% month-over-month and 109% year-on-year, for a total of 2,976 tons in the January-June period, 97% year-on-year. Shipments to Taiwan declined for the fourth consecutive month, falling below the level for the first time since January 2022, to 989 tons, down 73% m/m and 54% y/y, for a total of 9,473 tons for the January-June period, 98% y/y. Shipments to Vietnam were down for the ninth consecutive month to 0 tons, while those to Thailand increased significantly to 588 tons, up 178% m/m and 168% y/y. Shipments to India surged to 1,123 tons (1,023 tons in Bullion), up 749% month-over-month and 1,123% year-on-year, and 2,005 tons for the January-June period, up 1,120% year-on-year. shipments to Indonesia totaled 0 tons for the fifth consecutive month, The "Others" category totaled 1,089 tons, of which 949 tons were destined for the U.K. Looking at the cumulative total since the beginning of the year, shipments to Thailand, India, and "Others" have been on an expansionary trend, compensating for the extreme slump in shipments to Vietnam and Indonesia. This has supported a flat total (Table 1, Graph 1).
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