Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea - 2022

Contents:

1. Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea (CIF) - 2022
2. Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea (FOB) - 2022
3. Imports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea
4. Exports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea

Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea (CIF) - 2022

The average import price for borates; disodium tetraborate (refined borax), other than anhydroi stood at $613 per ton in December 2022, growing by 2.7% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.3%. The most prominent rate of growth was recorded in September 2022 an increase of 16% against the previous month. As a result, import price reached the peak level of $669 per ton. From October 2022 to December 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Turkey ($608 per ton), while the price for the United States totaled $577 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.9%).

Price for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea (FOB) - 2022

The average export price for borates; disodium tetraborate (refined borax), other than anhydroi stood at $719 per ton in 2022, with an increase of 12% against the previous year. In general, the export price, however, saw a mild decrease. The most prominent rate of growth was recorded in 2019 when the average export price increased by 36% against the previous year. The export price peaked at $1,162 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($1,499 per ton), while the average price for exports to Malaysia ($510 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 China (+34.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea

After three years of growth, supplies from abroad of borates; disodium tetraborate (refined borax), other than anhydroi decreased by -8.1% to 24K tons in 2022. The total import volume increased at an average annual rate of +3.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 16%. As a result, imports reached the peak of 26K tons, and then fell in the following year.

In value terms, imports of borates; disodium tetraborate (refined borax), other than anhydroi expanded remarkably to $13M in 2022. The total import value increased at an average annual rate of +10.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.

Top Suppliers of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous to South Korea in 2022:

1. Turkey (15.8K tons)
2. United States (7.8K tons)

Exports of Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous in South Korea

In 2022, exports of borates; disodium tetraborate (refined borax), other than anhydroi from South Korea reduced dramatically to 105 tons, which is down by -36% compared with the previous year's figure. Overall, exports continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 92%.

In value terms, exports of borates; disodium tetraborate (refined borax), other than anhydroi contracted remarkably to $75K in 2022. Over the period under review, exports recorded a dramatic setback. The growth pace was the most rapid in 2021 with an increase of 144%.

Top Export Markets for Borates; Disodium Tetraborate (Refined Borax), Other than Anhydrous from South Korea in 2022:

1. Malaysia (65.0 tons)
2. Japan (19.3 tons)
3. Fiji (11.6 tons)
4. Taiwan (Chinese) (3.3 tons)
5. Mexico (2.2 tons)
6. Bangladesh (1.6 tons)

Source: IndexBox Market Intelligence Platform