Copper Wire Price in South Korea - 2022

Contents:

1. Copper Wire Price in South Korea (FOB) - 2022
2. Copper Wire Price in South Korea (CIF) - 2022
3. Copper Wire Exports in South Korea
4. Copper Wire Imports in South Korea

Copper Wire Price in South Korea (FOB) - 2022

In 2022, the average copper wire export price amounted to $8,615 per ton, almost unchanged from the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 43%. As a result, the export price reached the peak level of $8,699 per ton, leveling off in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($10,382 per ton), while the average price for exports to Malaysia ($4,467 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Price in South Korea (CIF) - 2022

The average copper wire import price stood at $8,971 per ton in December 2022, therefore, remained relatively stable against the previous month. Overall, the import price, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in March 2022 an increase of 7.3% against the previous month. The import price peaked at $12,099 per ton in June 2022; however, from July 2022 to December 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($78,046 per ton), while the price for Vietnam ($7,576 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Copper Wire Exports in South Korea

In 2022, the amount of copper wires exported from South Korea shrank dramatically to 61K tons, with a decrease of -16.1% on the previous year's figure. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 5.4%.

In value terms, copper wire exports reduced sharply to $527M in 2022. Overall, total exports indicated a notable increase from 2019 to 2022: its value increased at an average annual rate of +4.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. As a result, the exports attained the peak of $634M, and then reduced rapidly in the following year.

Top Export Markets for Copper Wire from South Korea in 2022:

1. Myanmar (26.8K tons)
2. China (9.7K tons)
3. India (5.7K tons)
4. United States (2.7K tons)
5. Vietnam (2.3K tons)
6. Bangladesh (2.0K tons)
7. Philippines (1.7K tons)
8. Sri Lanka (1.7K tons)
9. Singapore (1.3K tons)
10. Malaysia (1.3K tons)
11. Indonesia (0.9K tons)
12. Australia (0.6K tons)
13. Mexico (0.1K tons)

Copper Wire Imports in South Korea

In 2022, imports of copper wires into South Korea shrank to 8.5K tons, which is down by -13.4% compared with the previous year's figure. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 37% against the previous year. As a result, imports reached the peak of 9.9K tons, and then reduced in the following year.

In value terms, copper wire imports dropped notably to $75M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +6.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 83%. As a result, imports reached the peak of $97M, and then contracted rapidly in the following year.

Top Suppliers of Copper Wire to South Korea in 2022:

1. Chile (2588.3 tons)
2. China (2288.0 tons)
3. Vietnam (1273.8 tons)
4. United States (884.3 tons)
5. Taiwan (Chinese) (501.5 tons)
6. Germany (319.3 tons)
7. Philippines (229.8 tons)
8. Malaysia (15.9 tons)

Source: IndexBox Market Intelligence Platform