Price for Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea - 2022

Contents:

1. Price for Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea (CIF) - 2022
2. Price for Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea (FOB) - 2022
3. Imports of Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea
4. Exports of Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea

Price for Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea (CIF) - 2022

In December 2022, the average import price for granules and powders, of pig iron, spiegeleisen, iron or steels amounted to $1,842 per ton, with an increase of 1.5% against the previous month. Over the period under review, the import price, however, saw a pronounced reduction. The growth pace was the most rapid in June 2022 when the average import price increased by 23% month-to-month. Over the period under review, average import prices hit record highs at $2,704 per ton in August 2022; however, from September 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 Germany ($8,249 per ton), while the price for Thailand ($781 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 Germany (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea (FOB) - 2022

In 2022, the average export price for granules and powders, of pig iron, spiegeleisen, iron or steels amounted to $1,970 per ton, rising by 33% against the previous year. Overall, the export price enjoyed strong growth. The pace of growth was the most pronounced in 2018 an increase of 58% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

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 Philippines ($5,889 per ton), while the average price for exports to Kuwait ($126 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 Philippines (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea

In 2022, approx. 91K tons of granules and powders, of pig iron, spiegeleisen, iron or steels were imported into South Korea; reducing by -10.6% compared with 2021. Overall, imports recorded a pronounced downturn. The pace of growth appeared the most rapid in 2021 with an increase of 14% against the previous year. As a result, imports attained the peak of 101K tons, and then fell in the following year.

In value terms, imports of granules and powders, of pig iron, spiegeleisen, iron or steels fell modestly to $204M in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 33%. As a result, imports reached the peak of $210M, and then declined modestly in the following year.

Top Suppliers of Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel to South Korea in 2022:

1. Sweden (35.9K tons)
2. China (24.3K tons)
3. Japan (13.3K tons)
4. Canada (6.3K tons)
5. Italy (3.2K tons)
6. United States (2.4K tons)

Exports of Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel in South Korea

In 2022, approx. 37K tons of granules and powders, of pig iron, spiegeleisen, iron or steels were exported from South Korea; with a decrease of -25.8% on the previous year. Overall, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 when exports increased by 25% against the previous year. As a result, the exports attained the peak of 49K tons, and then declined rapidly in the following year.

In value terms, exports of granules and powders, of pig iron, spiegeleisen, iron or steels reduced slightly to $72M in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.7% 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 +50.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. As a result, the exports attained the peak of $74M, and then fell in the following year.

Top Export Markets for Granules and Powders, of Pig Iron, Spiegeleisen, Iron or Steel from South Korea in 2022:

1. Japan (11.0K tons)
2. China (5.4K tons)
3. Taiwan (Chinese) (4.9K tons)
4. Philippines (4.4K tons)
5. Vietnam (4.0K tons)
6. Malaysia (2.6K tons)
7. Thailand (1.1K tons)
8. Indonesia (0.6K tons)
9. India (0.4K tons)