Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (FOB) - 2022
In December 2022, the average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $736 per ton, jumping by 84% against the previous month. Overall, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in March 2022 an increase of 201% month-to-month. As a result, the export price reached the peak level of $1,347 per ton. From April 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($881 per ton), while the average price for exports to Malaysia ($338 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.7%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $954 per ton, waning by -52.6% against the previous year. Over the period under review, the import price, however, saw a modest expansion. The growth pace was the most rapid in 2020 when the average import price increased by 100% against the previous year. The import price peaked at $2,012 per ton in 2021, and then fell sharply in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($7,070 per ton), while the price for Japan stood at $684 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.8%), while the prices for the other major suppliers experienced a decline.
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
Exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s from South Korea skyrocketed to 7.9K tons in 2022, jumping by 55% compared with 2021 figures. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 with an increase of 290% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $5.8M in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 165% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | N/A | 401 | 1,325 | 2,960 | 171.7% |
Japan | 438 | 434 | 638 | 2,282 | 73.4% |
Malaysia | N/A | 10.2 | 139 | 305 | 446.8% |
Thailand | N/A | N/A | N/A | 72.2 | 0% |
Others | 117 | 27.5 | 209 | 163 | 11.7% |
Total | 554 | 872 | 2,311 | 5,783 | 118.5% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from South Korea in 2022:
- China (4.5K tons)
- Japan (2.1K tons)
- Malaysia (1.1K tons)
- Thailand (0.1K tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
After two years of decline, overseas purchases of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s increased by 330% to 89 tons in 2022. Over the period under review, imports, however, faced a dramatic slump.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s skyrocketed to $85K in 2022. In general, imports, however, showed a dramatic curtailment.
Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 111 | N/A | N/A | 59.1 | -18.9% |
China | 283 | 5.1 | 3.5 | 19.1 | -59.3% |
Malaysia | 129 | 28.5 | 38.2 | N/A | -45.6% |
United States | 45.4 | 2.7 | N/A | N/A | -94.1% |
Canada | 84.6 | N/A | N/A | N/A | 0% |
Others | 1.1 | 0.1 | N/A | 6.9 | 84.4% |
Total | 654 | 36.5 | 41.7 | 85.1 | -49.3% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to South Korea in 2022:
- Japan (86.5 tons)
- China (2.7 tons)
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