Price for Copper; Refined, Unwrought, Wire-Bars in South Korea - 2022

Contents:

1. Price for Copper; Refined, Unwrought, Wire-Bars in South Korea (FOB) - 2022
2. Price for Copper; Refined, Unwrought, Wire-Bars in South Korea (CIF) - 2022
3. Exports of Copper; Refined, Unwrought, Wire-Bars in South Korea
4. Imports of Copper; Refined, Unwrought, Wire-Bars in South Korea

Price for Copper; Refined, Unwrought, Wire-Bars in South Korea (FOB) - 2022

The average copper; refined, unwrought, wire-bars export price stood at $10,051 per ton in 2022, remaining stable against the previous year. Over the period under review, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 40% against the previous year. Over the period under review, the average export prices reached the maximum at $17,203 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to -0.7% per year.

Price for Copper; Refined, Unwrought, Wire-Bars in South Korea (CIF) - 2022

In 2022, the average copper; refined, unwrought, wire-bars import price amounted to $12,215 per ton, reducing by -31% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 203% against the previous year. Over the period under review, average import prices hit record highs at $54,000 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($16,717 per ton), while the price for China stood at $6,647 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.8%).

Exports of Copper; Refined, Unwrought, Wire-Bars in South Korea

In 2022, shipments abroad of copper; refined, unwrought, wire-barses decreased by -60.4% to 48 tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a sharp curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 13% against the previous year. As a result, the exports reached the peak of 160 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, copper; refined, unwrought, wire-bars exports fell sharply to $485K in 2022. In general, exports continue to indicate a sharp descent. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year.

Top Export Markets for Copper; Refined, Unwrought, Wire-Bars from South Korea in 2022:

1. Thailand (48.3 tons)

Imports of Copper; Refined, Unwrought, Wire-Bars in South Korea

Copper; refined, unwrought, wire-bars imports into South Korea surged to 1.4 tons in 2022, picking up by 133% compared with 2021. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 3,350%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, copper; refined, unwrought, wire-bars imports soared to $18K in 2022. In general, imports recorded significant growth. The growth pace was the most rapid in 2021 with an increase of 1,825% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Copper; Refined, Unwrought, Wire-Bars to South Korea in 2022:

1. Japan (799.0 kg)
2. China (646.0 kg)

Source: IndexBox Market Intelligence Platform