Ferro-Alloys; Ferro-Nickel Price in South Korea - 2022
Contents:
- Ferro-Alloys; Ferro-Nickel Price in South Korea (CIF) - 2022
- Ferro-Alloys; Ferro-Nickel Price in South Korea (FOB) - 2022
- Ferro-Alloys; Ferro-Nickel Imports in South Korea
- Ferro-Alloys; Ferro-Nickel Exports in South Korea
Ferro-Alloys; Ferro-Nickel Price in South Korea (CIF) - 2022
The average ferro-alloys; ferro-nickel import price stood at $13,500 per ton in December 2022, growing by 165% against the previous month. Over the period under review, the import price posted a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for Vietnam.
From December 2021 to December 2022, the rate of growth in terms of prices for Japan amounted to +6.8% per month.
Ferro-Alloys; Ferro-Nickel Price in South Korea (FOB) - 2022
The average ferro-alloys; ferro-nickel export price stood at $2,107 per ton in 2022, falling by -2.4% against the previous year. Over the period under review, the export price showed a abrupt descent. The growth pace was the most rapid in 2018 when the average export price increased by 26%. The export price peaked at $6,230 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($2,398 per ton), while the average price for exports to China stood at $2,041 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-10.5%).
Ferro-Alloys; Ferro-Nickel Imports in South Korea
In 2022, ferro-alloys; ferro-nickel imports into South Korea expanded slightly to 72K tons, picking up by 1.9% on 2021. The total import volume increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 7.8%. As a result, imports attained the peak of 73K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, ferro-alloys; ferro-nickel imports dropped to $201M in 2022. Over the period under review, imports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2021 when imports increased by 40%.
| Import of Ferro-Alloys; Ferro-Nickel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 143 | 42.5 | 96.7 | 77.1 | -18.6% |
| Colombia | N/A | 28.0 | 52.7 | 43.2 | 24.2% |
| Brazil | 47.0 | 45.6 | 59.5 | 40.1 | -5.2% |
| Japan | 59.3 | 39.7 | 18.3 | 21.7 | -28.5% |
| New Caledonia | 2.9 | 6.5 | 7.2 | 17.4 | 81.7% |
| Ukraine | 40.6 | 5.3 | N/A | N/A | -86.9% |
| Others | 8.1 | N/A | 0.1 | 1.5 | -43.0% |
| Total | 301 | 168 | 234 | 201 | -12.6% |
Top Suppliers of Ferro-Alloys; Ferro-Nickel to South Korea in 2022:
- Indonesia (36.8K tons)
- Brazil (11.4K tons)
- Colombia (10.8K tons)
- Japan (10.6K tons)
- New Caledonia (1.9K tons)
Ferro-Alloys; Ferro-Nickel Exports in South Korea
In 2022, the amount of ferro-alloys; ferro-nickels exported from South Korea skyrocketed to 58K tons, growing by 17% compared with 2021. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.4% 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 decreased by -12.5% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 99% against the previous year. As a result, the exports reached the peak of 66K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, ferro-alloys; ferro-nickel exports expanded markedly to $122M in 2022. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 76% against the previous year. As a result, the exports reached the peak of $137M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Ferro-Alloys; Ferro-Nickel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 76.2 | 137 | 80.0 | 102 | 10.2% |
| United States | N/A | N/A | N/A | 19.2 | 0% |
| India | N/A | N/A | 27.2 | N/A | 0% |
| Others | 1.3 | N/A | N/A | 1.2 | -2.6% |
| Total | 77.6 | 137 | 107 | 122 | 16.3% |
Top Export Markets for Ferro-Alloys; Ferro-Nickel from South Korea in 2022:
- China (49.8K tons)
- United States (8.0K tons)
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