Price for Mineral Substances Not Elsewhere Specified or Included in South Korea - 2022
Contents:
- Price for Mineral Substances Not Elsewhere Specified or Included in South Korea (CIF) - 2022
- Price for Mineral Substances Not Elsewhere Specified or Included in South Korea (FOB) - 2022
- Imports of Mineral Substances Not Elsewhere Specified or Included in South Korea
- Exports of Mineral Substances Not Elsewhere Specified or Included in South Korea
Price for Mineral Substances Not Elsewhere Specified or Included in South Korea (CIF) - 2022
The average import price for mineral substances not elsewhere specified or includeds stood at $268 per ton in December 2022, shrinking by -72.3% against the previous month. In general, the import price, however, showed mild growth. The pace of growth appeared the most rapid in November 2022 an increase of 196% month-to-month. As a result, import price attained the peak level of $969 per ton, and then plummeted in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Australia ($2,240 per ton), while the price for Vietnam ($71.0 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 Japan (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Mineral Substances Not Elsewhere Specified or Included in South Korea (FOB) - 2022
In 2022, the average export price for mineral substances not elsewhere specified or includeds amounted to $139 per ton, jumping by 53% against the previous year. Overall, the export price saw a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($998 per ton), while the average price for exports to Japan ($49 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 China (+28.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Mineral Substances Not Elsewhere Specified or Included in South Korea
In 2022, the amount of mineral substances not elsewhere specified or includeds imported into South Korea surged to 409K tons, increasing by 18% on 2021. The total import volume increased at an average annual rate of +8.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded 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 mineral substances not elsewhere specified or includeds skyrocketed to $142M in 2022. Overall, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Mineral Substances Not Elsewhere Specified or Included in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 16.8 | 23.4 | 16.2 | 78.4 | 67.1% |
| China | 30.2 | 27.3 | 29.8 | 31.5 | 1.4% |
| South Africa | 9.8 | 6.3 | 7.9 | 8.1 | -6.2% |
| Vietnam | 3.0 | 2.6 | 4.6 | 5.2 | 20.1% |
| Turkey | 5.0 | 4.7 | 6.1 | 5.1 | 0.7% |
| Japan | 3.2 | 3.4 | 4.4 | 3.2 | 0.0% |
| Russia | 0.3 | 1.4 | 1.3 | 1.8 | 81.7% |
| Others | 10.9 | 9.5 | 9.9 | 9.1 | -5.8% |
| Total | 79.3 | 78.7 | 80.3 | 142 | 21.4% |
Top Suppliers of Mineral Substances Not Elsewhere Specified or Included to South Korea in 2022:
- China (172.6K tons)
- Australia (91.4K tons)
- Vietnam (46.4K tons)
- Turkey (44.9K tons)
- South Africa (19.8K tons)
- Japan (13.9K tons)
- Russia (11.2K tons)
Exports of Mineral Substances Not Elsewhere Specified or Included in South Korea
In 2022, overseas shipments of mineral substances not elsewhere specified or includeds were finally on the rise to reach 165K tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a abrupt curtailment.
In value terms, exports of mineral substances not elsewhere specified or includeds skyrocketed to $23M in 2022. In general, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Mineral Substances Not Elsewhere Specified or Included in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.8 | 2.5 | 2.6 | 6.9 | 56.5% |
| Japan | 5.8 | 4.5 | 5.0 | 5.1 | -4.2% |
| Taiwan (Chinese) | 2.5 | 2.6 | 2.3 | 3.0 | 6.3% |
| France | N/A | N/A | N/A | 2.1 | 0% |
| Malaysia | 1.1 | 0.4 | 0.8 | 0.7 | -14.0% |
| Vietnam | 1.0 | 1.2 | 0.8 | 0.6 | -15.7% |
| Others | 2.3 | 2.0 | 2.1 | 4.5 | 25.1% |
| Total | 14.4 | 13.3 | 13.5 | 23.0 | 16.9% |
Top Export Markets for Mineral Substances Not Elsewhere Specified or Included from South Korea in 2022:
- Japan (104.4K tons)
- Taiwan (Chinese) (32.0K tons)
- Malaysia (11.1K tons)
- China (6.9K tons)
- Vietnam (4.4K tons)
- France (2.7K tons)
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