Price for Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea - 2022

Contents:

1. Price for Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea (CIF) - 2022
2. Price for Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea (FOB) - 2022
3. Imports of Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea
4. Exports of Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea

Price for Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea (CIF) - 2022

In December 2022, the average import price for containers for compressed or liquefied gas, of iron or steel amounted to $52.3 per unit, shrinking by -17.3% against the previous month. In general, the import price recorded a slight decline. The pace of growth was the most pronounced in November 2022 when the average import price increased by 12% m-o-m. As a result, import price reached the peak level of $63.2 per unit, and then contracted remarkably in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($62.3 per unit), while the price for Singapore ($24.4 per unit) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.5%), while the prices for the other major suppliers experienced a decline.

Price for Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea (FOB) - 2022

In 2022, the average export price for containers for compressed or liquefied gas, of iron or steel amounted to $56 per unit, rising by 7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($88 per unit), while the average price for exports to Indonesia ($18 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea

Imports of containers for compressed or liquefied gas, of iron or steel into South Korea rose significantly to 4.9M units in 2022, surging by 6.6% on the previous year's figure. The total import volume increased at an average annual rate of +4.8% 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 appeared the most rapid in 2021 when imports increased by 11% against the previous year. 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 containers for compressed or liquefied gas, of iron or steel expanded sharply to $270M in 2022. The total import value increased at an average annual rate of +12.3% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Containers for Compressed or Liquefied Gas, of Iron or Steel to South Korea in 2022:

1. China (1969.2K units)
2. Japan (1112.8K units)
3. United States (730.4K units)
4. Taiwan (Chinese) (430.4K units)
5. Italy (117.4K units)
6. Vietnam (107.2K units)
7. Singapore (88.5K units)

Exports of Containers for Compressed or Liquefied Gas, of Iron or Steel in South Korea

In 2022, shipments abroad of containers for compressed or liquefied gas, of iron or steel decreased by -12.8% to 4.7M units, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +2.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 35%. As a result, the exports reached the peak of 5.8M units. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of containers for compressed or liquefied gas, of iron or steel dropped to $260M in 2022. The total export value increased at an average annual rate of +11.0% over the period 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 2020 when exports increased by 39% against the previous year. Over the period under review, the exports of attained the maximum at $276M in 2021, and then fell in the following year.

Top Export Markets for Containers for Compressed or Liquefied Gas, of Iron or Steel from South Korea in 2022:

1. China (1175.7K units)
2. Japan (1160.1K units)
3. United States (949.2K units)
4. Taiwan (Chinese) (565.1K units)
5. Bangladesh (192.7K units)
6. Singapore (98.4K units)
7. Malaysia (90.6K units)
8. Indonesia (74.6K units)
9. Vietnam (64.9K units)
10. Russia (27.0K units)
11. Poland (1.7K units)

Source: IndexBox Market Intelligence Platform