Price for Carbides, Whether or Not Chemically Defined in South Korea - 2022

Contents:

1. Price for Carbides, Whether or Not Chemically Defined in South Korea (CIF) - 2022
2. Price for Carbides, Whether or Not Chemically Defined in South Korea (FOB) - 2022
3. Imports of Carbides, Whether or Not Chemically Defined in South Korea
4. Exports of Carbides, Whether or Not Chemically Defined in South Korea

Price for Carbides, Whether or Not Chemically Defined in South Korea (CIF) - 2022

The average import price for carbides, whether or not chemically defineds stood at $2,344 per ton in December 2022, reducing by -11.7% against the previous month. Over the period under review, the import price recorded a slight decline. The most prominent rate of growth was recorded in April 2022 when the average import price increased by 40% month-to-month. Over the period under review, average import prices attained the peak figure at $3,801 per ton in May 2022; however, from June 2022 to December 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($8,233 per ton), while the price for Vietnam ($1,148 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 Russia (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Carbides, Whether or Not Chemically Defined in South Korea (FOB) - 2022

In 2022, the average export price for carbides, whether or not chemically defineds amounted to $33,522 per ton, increasing by 22% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 60% against the previous year. Over the period under review, the average export prices reached the peak figure at $48,857 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 the UK ($51,006 per ton), while the average price for exports to China ($5,755 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 the UK (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Carbides, Whether or Not Chemically Defined in South Korea

In 2022, approx. 63K tons of carbides, whether or not chemically defineds were imported into South Korea; increasing by 4.9% compared with the previous year's figure. The total import volume increased at an average annual rate of +9.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 27%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of carbides, whether or not chemically defineds totaled $165M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +13.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 60%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Carbides, Whether or Not Chemically Defined to South Korea in 2022:

1. China (55.1K tons)
2. Vietnam (4.2K tons)
3. Russia (1.4K tons)
4. Japan (1.2K tons)

Exports of Carbides, Whether or Not Chemically Defined in South Korea

In 2022, shipments abroad of carbides, whether or not chemically defineds decreased by -3.2% to 1.1K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 12%.

In value terms, exports of carbides, whether or not chemically defineds soared to $36M in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +8.4% 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 increased by +60.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 36% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Carbides, Whether or Not Chemically Defined from South Korea in 2022:

1. Japan (305.1 tons)
2. China (249.9 tons)
3. Sweden (190.0 tons)
4. Israel (100.5 tons)
5. United Kingdom (63.1 tons)
6. United States (40.7 tons)
7. Germany (29.0 tons)
8. Vietnam (15.9 tons)
9. Italy (10.0 tons)

Source: IndexBox Market Intelligence Platform