Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea - 2022
Contents:
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea (CIF) - 2022
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea (FOB) - 2022
- Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea
- Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea
Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea (CIF) - 2022
The average import price for ferrous waste and scrap; of tinned iron or steels stood at $612 per ton in December 2022, falling by -16.7% against the previous month. Over the period under review, the import price showed a noticeable descent. The most prominent rate of growth was recorded in September 2022 when the average import price increased by 56% month-to-month. Over the period under review, average import prices hit record highs at $1,031 per ton in June 2022; however, from July 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 Japan ($919 per ton), while the price for the Philippines amounted to $346 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the Philippines (0.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea (FOB) - 2022
The average export price for ferrous waste and scrap; of tinned iron or steels stood at $389 per ton in 2022, with a decrease of -9.8% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 40% against the previous year. As a result, the export price attained the peak level of $432 per ton, and then contracted in the following year.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($437 per ton), while the average price for exports to Indonesia ($329 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 Bangladesh (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea
Imports of ferrous waste and scrap; of tinned iron or steels into South Korea skyrocketed to 12K tons in 2022, with an increase of 74% compared with 2021. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 447% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of ferrous waste and scrap; of tinned iron or steels soared to $8.7M in 2022. In general, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 761% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | 0.9 | 6.1 | 5.9 | 156.0% |
| United States | N/A | N/A | 0.2 | 1.1 | 450.0% |
| Thailand | N/A | N/A | N/A | 1.1 | 0% |
| Australia | N/A | N/A | N/A | 0.2 | 0% |
| Palau | N/A | N/A | N/A | 0.2 | 0% |
| Philippines | N/A | N/A | N/A | 0.1 | 0% |
| Peru | N/A | N/A | N/A | 0.1 | 0% |
| Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Total | 0.1 | 0.9 | 6.5 | 8.7 | 343.1% |
Top Suppliers of Ferrous Waste and Scrap; of Tinned Iron or Steel to South Korea in 2022:
- Japan (6.1K tons)
- Thailand (2.6K tons)
- United States (2.1K tons)
- Palau (0.6K tons)
- Philippines (0.4K tons)
- Australia (0.3K tons)
- Peru (0.2K tons)
Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea
In 2022, shipments abroad of ferrous waste and scrap; of tinned iron or steels decreased by -33.1% to 5.5K tons, falling for the second consecutive year after two years of growth. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 89%. As a result, the exports reached the peak of 13K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of ferrous waste and scrap; of tinned iron or steels contracted dramatically to $2.1M in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 90%. As a result, the exports attained the peak of $4M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Ferrous Waste and Scrap; of Tinned Iron or Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | N/A | 1.2 | 0.6 | 1.0 | -8.7% |
| India | 0.2 | 0.5 | N/A | 0.8 | 58.7% |
| Indonesia | 1.9 | 2.3 | 2.1 | 0.3 | -46.0% |
| Bangladesh | N/A | N/A | 0.9 | N/A | 0% |
| Others | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Total | 2.1 | 4.0 | 3.5 | 2.1 | 0.0% |
Top Export Markets for Ferrous Waste and Scrap; of Tinned Iron or Steel from South Korea in 2022:
- Malaysia (2.4K tons)
- India (2.1K tons)
- Indonesia (1.0K tons)
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