Price for Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea - 2022

Contents:

1. Price for Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea (FOB) - 2022
2. Price for Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea (CIF) - 2022
3. Exports of Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea
4. Imports of Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea

Price for Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea (FOB) - 2022

The average export price for aluminium plates, sheets and strip of thickness exceeding 0.2 mms stood at $3,334 per ton in December 2022, shrinking by -3.8% against the previous month. Overall, the export price recorded a mild decline. The most prominent rate of growth was recorded in April 2022 an increase of 8.1% against the previous month. As a result, the export price attained the peak level of $4,865 per ton. From May 2022 to December 2022, the the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In December 2022, the countries with the highest prices were the United States ($3,995 per ton) and Thailand ($3,806 per ton), while the average price for exports to Turkey ($2,821 per ton) and South Africa ($2,850 per ton) were amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-0.4%), while the prices for the other major destinations experienced a decline.

Price for Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea (CIF) - 2022

In December 2022, the average import price for aluminium plates, sheets and strip of thickness exceeding 0.2 mms amounted to $4,156 per ton, approximately equating the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in March 2022 when the average import price increased by 3.5% month-to-month. The import price peaked at $4,367 per ton in May 2022; however, from June 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 United States ($8,005 per ton), while the price for China ($3,474 per ton) was amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea

For the fourth year in a row, South Korea recorded growth in overseas shipments of aluminium plates, sheets and strip of thickness exceeding 0.2 mms, which increased by 6.3% to 676K tons in 2022. The total export volume increased at an average annual rate of +7.7% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 14% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of aluminium plates, sheets and strip of thickness exceeding 0.2 mms surged to $2.7B in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +17.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 38%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm from South Korea in 2022:

1. China (183.5K tons)
2. United States (104.9K tons)
3. Vietnam (59.5K tons)
4. Turkey (45.9K tons)
5. Japan (39.2K tons)
6. Mexico (35.8K tons)
7. India (34.7K tons)
8. Australia (29.3K tons)
9. South Africa (16.0K tons)
10. Spain (13.9K tons)
11. Indonesia (13.5K tons)
12. Nigeria (13.4K tons)
13. United Arab Emirates (10.9K tons)

Imports of Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm in South Korea

Imports of aluminium plates, sheets and strip of thickness exceeding 0.2 mms into South Korea soared to 371K tons in 2022, rising by 20% on the previous year's figure. The total import volume increased at an average annual rate of +2.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of aluminium plates, sheets and strip of thickness exceeding 0.2 mms soared to $1.6B in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +11.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.1% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Aluminium Plates, Sheets and Strip of Thickness Exceeding 0.2 Mm to South Korea in 2022:

1. China (311.4K tons)
2. United States (16.0K tons)
3. Japan (12.1K tons)
4. Germany (6.7K tons)
5. Switzerland (5.9K tons)
6. Thailand (4.4K tons)

Source: IndexBox Market Intelligence Platform