Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea - 2022

Contents:

1. Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea (CIF) - 2022
2. Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea (FOB) - 2022
3. Imports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea
4. Exports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea

Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea (CIF) - 2022

In December 2022, the average import price for iron or steel cast fittings, other than of non-malleable cast ira amounted to $3,464 per ton, increasing by 5.8% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 when the average import price increased by 16% month-to-month. Over the period under review, average import prices attained the peak figure at $4,411 per ton in April 2022; however, from May 2022 to December 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Vietnam ($6,640 per ton), while the price for China ($3,213 per ton) was amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.3%), while the prices for the other major suppliers experienced a decline.

Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea (FOB) - 2022

The average export price for iron or steel cast fittings, other than of non-malleable cast ira stood at $9,819 per ton in 2022, growing by 23% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for iron or steel cast fittings, other than of non-malleable cast ira increased by +86.6% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($20,102 per ton), while the average price for exports to India ($2,102 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 United States (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea

In 2022, imports of iron or steel cast fittings, other than of non-malleable cast ira into South Korea contracted sharply to 16K tons, shrinking by -16.3% on 2021. Overall, imports recorded a abrupt slump. The smallest decline of -2.4% was in 2021.

In value terms, imports of iron or steel cast fittings, other than of non-malleable cast ira declined to $62M in 2022. In general, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year.

Top Suppliers of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron to South Korea in 2022:

1. China (15.4K tons)
2. Vietnam (0.3K tons)

Exports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in South Korea

For the third year in a row, South Korea recorded decline in shipments abroad of iron or steel cast fittings, other than of non-malleable cast ira, which decreased by -16.4% to 1.9K tons in 2022. Overall, exports recorded a deep setback. The smallest decline of -14.6% was in 2021.

In value terms, exports of iron or steel cast fittings, other than of non-malleable cast ira expanded modestly to $18M in 2022. Over the period under review, exports saw a perceptible reduction.

Top Export Markets for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron from South Korea in 2022:

1. United States (436.9 tons)
2. Japan (428.9 tons)
3. Mexico (347.6 tons)
4. Vietnam (121.0 tons)
5. China (72.9 tons)
6. Egypt (60.4 tons)
7. United Kingdom (51.8 tons)
8. India (49.2 tons)
9. Malaysia (47.0 tons)
10. Iraq (41.0 tons)
11. Czech Republic (38.2 tons)
12. United Arab Emirates (2.1 tons)

Source: IndexBox Market Intelligence Platform