Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea - 2022

Contents:

1. Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea (CIF) - 2022
2. Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea (FOB) - 2022
3. Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea
4. Exports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea

Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea (CIF) - 2022

The average import price for aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms stood at $4,397 per ton in December 2022, declining by -2.1% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 when the average import price increased by 15% m-o-m. The import price peaked at $4,881 per ton in June 2022; however, from July 2022 to December 2022, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the UK ($5,567 per ton), while the price for Malaysia ($2,902 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 Bahrain (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea (FOB) - 2022

The average export price for aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms stood at $4,099 per ton in 2022, growing by 4% against the previous year. In general, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms increased by +34.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 29%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($6,458 per ton), while the average price for exports to Thailand ($3,327 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 Austria (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea

For the fourth consecutive year, South Korea recorded growth in overseas purchases of aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms, which increased by 7% to 4.3K tons in 2022. Overall, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +20.0% 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 +72.8% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 48%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, imports of aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms soared to $19M in 2022. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 82% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Top Suppliers of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm to South Korea in 2022:

1. Malaysia (909.1 tons)
2. Japan (828.3 tons)
3. United Kingdom (556.6 tons)
4. China (436.3 tons)
5. Vietnam (390.3 tons)
6. Bahrain (385.7 tons)
7. Netherlands (354.3 tons)
8. Thailand (336.3 tons)

Exports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in South Korea

In 2022, shipments abroad of aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms decreased by -21.8% to 428 tons, falling for the second consecutive year after two years of growth. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 286% against the previous year. As a result, the exports attained the peak of 762 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms shrank significantly to $1.8M in 2022. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 205%. As a result, the exports reached the peak of $2.3M. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm from South Korea in 2022:

1. Austria (214.7 tons)
2. Thailand (135.5 tons)
3. Vietnam (70.2 tons)
4. China (7.4 tons)

Source: IndexBox Market Intelligence Platform