Price for Magnesium; Articles Thereof, Including Waste and Scrap in South Korea - 2022
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in South Korea (CIF) - 2022
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in South Korea (FOB) - 2022
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in South Korea
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in South Korea
Price for Magnesium; Articles Thereof, Including Waste and Scrap in South Korea (CIF) - 2022
In December 2022, the average import price for magnesium; articles thereof, including waste and scrap amounted to $3,654 per ton, with a decrease of -5.3% against the previous month. Overall, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in February 2022 when the average import price increased by 11% against the previous month. As a result, import price attained the peak level of $7,386 per ton. From March 2022 to December 2022, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the country with the highest price was China ($3,659 per ton), while the price for Vietnam stood at $2,911 per ton.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (0.0%), while the prices for the other major suppliers experienced a decline.
Price for Magnesium; Articles Thereof, Including Waste and Scrap in South Korea (FOB) - 2022
The average export price for magnesium; articles thereof, including waste and scrap stood at $5,644 per ton in 2022, surging by 37% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 magnesium; articles thereof, including waste and scrap increased by +55.5% against 2019 indices. As a result, the export price attained 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 ($13,422 per ton), while the average price for exports to Brazil ($2,594 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 Netherlands (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in South Korea
In 2022, the amount of magnesium; articles thereof, including waste and scrap imported into South Korea reached 26K tons, surging by 7.6% against 2021 figures. The total import volume increased at an average annual rate of +4.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of magnesium; articles thereof, including waste and scrap surged to $133M in 2022. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 86% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Magnesium; Articles Thereof, Including Waste and Scrap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 55.7 | 50.7 | 95.1 | 125 | 30.9% |
| Taiwan (Chinese) | 0.6 | 0.5 | 2.7 | 4.2 | 91.3% |
| Others | 1.9 | 2.9 | 3.0 | 3.9 | 27.1% |
| Total | 58.2 | 54.1 | 101 | 133 | 31.7% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to South Korea in 2022:
- China (23.6K tons)
- Taiwan (Chinese) (1.4K tons)
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in South Korea
Exports of magnesium; articles thereof, including waste and scrap from South Korea soared to 6.1K tons in 2022, picking up by 127% on the previous year's figure. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of magnesium; articles thereof, including waste and scrap surged to $35M in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Magnesium; Articles Thereof, Including Waste and Scrap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.7 | 6.3 | 7.7 | 29.7 | 84.9% |
| Brazil | 2.2 | 3.3 | 0.5 | 1.8 | -6.5% |
| Vietnam | 2.2 | 0.6 | 0.9 | 1.0 | -23.1% |
| Netherlands | N/A | 0.1 | 0.5 | 0.6 | 144.9% |
| Japan | 0.2 | 0.1 | 0.9 | 0.4 | 26.0% |
| Taiwan (Chinese) | 0.2 | 0.2 | 0.4 | 0.3 | 14.5% |
| Turkey | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Others | 0.7 | 0.4 | 0.2 | 0.6 | -5.0% |
| Total | 10.4 | 11.1 | 11.1 | 34.5 | 49.1% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from South Korea in 2022:
- United States (4835.4 tons)
- Brazil (710.6 tons)
- Vietnam (130.1 tons)
- Netherlands (125.2 tons)
- Japan (121.1 tons)
- Turkey (87.0 tons)
- Taiwan (Chinese) (53.2 tons)
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