Price for Steel, Stainless; Ingots and Other Primary Forms in South Korea - 2022
Contents:
- Price for Steel, Stainless; Ingots and Other Primary Forms in South Korea (CIF) - 2022
- Price for Steel, Stainless; Ingots and Other Primary Forms in South Korea (FOB) - 2022
- Imports of Steel, Stainless; Ingots and Other Primary Forms in South Korea
- Exports of Steel, Stainless; Ingots and Other Primary Forms in South Korea
Price for Steel, Stainless; Ingots and Other Primary Forms in South Korea (CIF) - 2022
The average import price for steel, stainless; ingots and other primary formses stood at $5,510 per ton in 2022, reducing by -6.7% against the previous year. Overall, the import price saw a perceptible downturn. The pace of growth was the most pronounced in 2018 an increase of 170% against the previous year. The import price peaked at $7,392 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($9,241 per ton), while the price for Germany ($3,160 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Stainless; Ingots and Other Primary Forms in South Korea (FOB) - 2022
In 2022, the average export price for steel, stainless; ingots and other primary formses amounted to $10,091 per ton, with an increase of 32% against the previous year. In general, the export price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 an increase of 180% against the previous year. The export price peaked at $29,657 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($101,466 per ton), while the average price for exports to Mexico ($3,931 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 UK (+22.2%), while the prices for the other major destinations experienced a decline.
Imports of Steel, Stainless; Ingots and Other Primary Forms in South Korea
Imports of steel, stainless; ingots and other primary formses into South Korea soared to 149 tons in 2022, rising by 91% compared with 2021 figures. In general, imports saw temperate growth. The pace of growth was the most pronounced in 2020 when imports increased by 289%. As a result, imports attained the peak of 528 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of steel, stainless; ingots and other primary formses soared to $819K in 2022. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 240% against the previous year. As a result, imports reached the peak of $2.1M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
Import of Steel, Stainless; Ingots and Other Primary Forms in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 280 | 506 | 388 | 718 | 36.9% |
Germany | 64.1 | 342 | N/A | 63.4 | -0.4% |
China | 51.5 | 71.1 | 44.7 | 37.5 | -10.0% |
Japan | 15.6 | 102 | 2.6 | 0.1 | -81.4% |
Vietnam | 110 | 786 | N/A | N/A | 614.5% |
Sweden | 63.5 | N/A | N/A | N/A | 0% |
Taiwan (Chinese) | N/A | 255 | N/A | N/A | 0% |
Others | 21.7 | 0.4 | 23.1 | N/A | 3.2% |
Total | 607 | 2,063 | 458 | 819 | 10.5% |
Top Suppliers of Steel, Stainless; Ingots and Other Primary Forms to South Korea in 2022:
- United States (124.5 tons)
- Germany (20.1 tons)
- China (4.1 tons)
Exports of Steel, Stainless; Ingots and Other Primary Forms in South Korea
In 2022, overseas shipments of steel, stainless; ingots and other primary formses decreased by -60.7% to 23 tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2020 with an increase of 272% against the previous year. As a result, the exports reached the peak of 529 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of steel, stainless; ingots and other primary formses reduced dramatically to $234K in 2022. Over the period under review, exports faced a sharp setback. The pace of growth appeared the most rapid in 2020 when exports increased by 95% against the previous year. As a result, the exports attained the peak of $1.4M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
Export of Steel, Stainless; Ingots and Other Primary Forms in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 252 | 320 | 5.8 | 79.5 | -31.9% |
Mexico | 29.8 | 14.3 | N/A | 72.5 | 34.5% |
United Kingdom | 257 | 110 | 69.2 | 47.7 | -43.0% |
Taiwan (Chinese) | 137 | 784 | 39.1 | N/A | -46.6% |
United States | N/A | N/A | 255 | N/A | 0% |
Others | 67.7 | 217 | 81.7 | 34.2 | -20.4% |
Total | 743 | 1,445 | 450 | 234 | -32.0% |
Top Export Markets for Steel, Stainless; Ingots and Other Primary Forms from South Korea in 2022:
- Mexico (18.4 tons)
- China (3.7 tons)
- United Kingdom (0.5 tons)
This report provides an in-depth analysis of the market for raw steel and steel semi-finished products in Republic of Korea.
This report provides an in-depth analysis of the global market for raw steel and steel semi-finished products.
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