Liquefied Butanes Price in South Korea - 2022

Liquefied Butanes Price in South Korea (CIF) - 2022

In December 2022, the average liquefied butanes import price amounted to $668 per ton, rising by 4.9% against the previous month. Overall, the import price, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in March 2022 an increase of 12% m-o-m. The import price peaked at $903 per ton in April 2022; however, from May 2022 to December 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the countries with the highest prices were Panama ($700 per ton) and Saudi Arabia ($698 per ton), while the price for Australia ($583 per ton) and the United States ($667 per ton) were amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Panama (-0.9%), while the prices for the other major suppliers experienced a decline.

Liquefied Butanes Price in South Korea (FOB) - 2022

In December 2022, the average liquefied butanes export price amounted to $2,402 per ton, rising by 3.3% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in March 2022 when the average export price increased by 19% against the previous month. Over the period under review, the average export prices attained the peak figure at $2,588 per ton in August 2022; however, from September 2022 to December 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In December 2022, the highest price was recorded for prices to the Netherlands ($2,907 per ton) and Russia ($2,874 per ton), while the average price for exports to Solomon Islands ($2,086 per ton) and Japan ($2,116 per ton) were amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Butanes Imports in South Korea

Liquefied butanes imports into South Korea dropped to 1.6M tons in 2022, which is down by -13.2% compared with the previous year. The total import volume increased at an average annual rate of +2.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 36% against the previous year. As a result, imports reached the peak of 1.8M tons, and then dropped in the following year.

In value terms, liquefied butanes imports reduced markedly to $836M in 2022. Overall, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2021 when imports increased by 120% against the previous year. As a result, imports attained the peak of $1.1B, and then dropped sharply in the following year.

Import of Liquefied Butanes in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	387	300	823	519	10.3%
Timor-Leste	55.3	60.5	88.4	89.6	17.5%
Norway	36.8	40.5	59.5	60.7	18.2%
Qatar	50.1	43.6	50.6	40.8	-6.6%
Bahrain	12.4	13.7	20.1	20.5	18.2%
United Arab Emirates	37.2	4.7	20.1	19.2	-19.8%
Malaysia	2.7	7.5	21.7	18.5	89.9%
Algeria	15.9	14.7	18.1	15.5	-0.8%
Saudi Arabia	7.6	10.4	10.6	9.1	6.2%
Others	52.2	26.9	37.2	43.0	-6.3%
Total	658	522	1,149	836	8.3%

Top Suppliers of Liquefied Butanes to South Korea in 2022:

United States (986.2K tons)
Qatar (129.1K tons)
Timor-Leste (79.4K tons)
United Arab Emirates (68.7K tons)
Bahrain (65.4K tons)
Malaysia (37.2K tons)
Saudi Arabia (36.5K tons)
Algeria (27.8K tons)
Norway (25.8K tons)

Liquefied Butanes Exports in South Korea

Liquefied butanes exports from South Korea dropped to 123K tons in 2022, declining by -7% compared with the previous year. In general, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 16%.

In value terms, liquefied butanes exports fell to $189M in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 12%. As a result, the exports attained the peak of $200M, and then declined in the following year.

Export of Liquefied Butanes in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	45.0	42.5	37.6	40.2	-3.7%
United States	17.9	20.4	24.1	17.9	0.0%
China	30.0	13.1	28.9	15.5	-19.8%
Taiwan (Chinese)	12.5	12.2	15.0	15.3	7.0%
Australia	8.7	9.9	8.5	12.1	11.6%
Russia	12.4	11.4	10.6	11.4	-2.8%
United Kingdom	4.1	4.2	5.0	7.6	22.8%
Thailand	4.5	4.8	5.8	5.9	9.4%
Netherlands	4.8	5.5	5.0	5.6	5.3%
Malaysia	3.9	4.6	5.3	5.4	11.5%
Vietnam	4.0	3.0	3.4	3.4	-5.3%
Mongolia	2.7	2.6	3.1	3.2	5.8%
Philippines	3.6	3.7	4.7	3.0	-5.9%
Others	38.5	40.1	42.3	42.2	3.1%
Total	193	178	200	189	-0.7%