Price for Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea - 2022

Contents:

1. Price for Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea (CIF) - 2022
2. Price for Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea (FOB) - 2022
3. Imports of Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea
4. Exports of Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea

Price for Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea (CIF) - 2022

In December 2022, the average import price for nickel; oxide sinters and other intermediate products of nickel metallurgies amounted to $6,269 per ton, approximately mirroring the previous month. Overall, the import price continues to indicate tangible growth. The pace of growth appeared the most rapid in February 2022 an increase of 170% m-o-m. As a result, import price attained the peak level of $12,843 per ton. From March 2022 to December 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Canada ($20,990 per ton), while the price for Turkey ($4,669 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 New Caledonia (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea (FOB) - 2022

In 2022, the average export price for nickel; oxide sinters and other intermediate products of nickel metallurgies amounted to $8,482 per ton, dropping by -17.4% against the previous year. Overall, the export price, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 161% against the previous year. As a result, the export price reached the peak level of $20,981 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($19,181 per ton), while the average price for exports to China ($5,799 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 (+5.1%).

Imports of Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea

In 2022, imports of nickel; oxide sinters and other intermediate products of nickel metallurgies into South Korea skyrocketed to 23K tons, jumping by 132% on the previous year. Over the period under review, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of nickel; oxide sinters and other intermediate products of nickel metallurgies surged to $200M in 2022. In general, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy to South Korea in 2022:

1. Indonesia (8.6K tons)
2. New Caledonia (7.8K tons)
3. Turkey (5.2K tons)
4. Canada (0.6K tons)
5. Japan (0.5K tons)

Exports of Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in South Korea

For the fourth consecutive year, South Korea recorded growth in overseas shipments of nickel; oxide sinters and other intermediate products of nickel metallurgies, which increased by 74% to 17 tons in 2022. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 74%. Over the period under review, the exports of attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, exports of nickel; oxide sinters and other intermediate products of nickel metallurgies soared to $140K in 2022. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 44% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Nickel; Oxide Sinters and Other Intermediate Products of Nickel Metallurgy from South Korea in 2022:

1. China (11.0 tons)
2. Netherlands (3.6 tons)
3. United States (1.0 tons)
4. Spain (0.9 tons)

Source: IndexBox Market Intelligence Platform