Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea - 2022
Contents:
- Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea (FOB) - 2022
- Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea (CIF) - 2022
- Exports of Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea
- Imports of Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea
Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea (FOB) - 2022
The average export price for tube or pipe butt welding fittings of stainless steels stood at $17,556 per ton in 2022, with an increase of 12% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% 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 tube or pipe butt welding fittings of stainless steels increased by +81.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 33% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($89,239 per ton), while the average price for exports to Nigeria ($7,068 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 Japan (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea (CIF) - 2022
The average import price for tube or pipe butt welding fittings of stainless steels stood at $19,375 per ton in 2022, with a decrease of -11.1% against the previous year. Overall, the import price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 133%. Over the period under review, average import prices attained the maximum at $22,998 per ton in 2018; however, from 2019 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 the United States ($188,876 per ton), while the price for China ($8,742 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea
In 2022, overseas shipments of tube or pipe butt welding fittings of stainless steels were finally on the rise to reach 7.5K tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a abrupt slump.
In value terms, exports of tube or pipe butt welding fittings of stainless steels surged to $131M in 2022. The total export value increased at an average annual rate of +11.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 21.7 | 10.7 | 19.5 | 38.4 | 21.0% |
| China | 21.6 | 31.3 | 31.2 | 17.9 | -6.1% |
| United Arab Emirates | 6.1 | 5.3 | 2.3 | 11.3 | 22.8% |
| Saudi Arabia | 7.1 | 4.3 | 7.3 | 10.8 | 15.0% |
| Taiwan (Chinese) | 2.7 | 3.2 | 7.0 | 10.4 | 56.8% |
| Canada | 1.4 | 3.0 | 6.6 | 6.6 | 67.7% |
| Japan | 4.1 | 3.2 | 5.0 | 6.6 | 17.2% |
| Malaysia | 3.7 | 2.0 | 3.8 | 3.4 | -2.8% |
| Singapore | 5.1 | 3.6 | 2.4 | 3.3 | -13.5% |
| Qatar | 0.4 | 0.3 | 0.1 | 3.2 | 100.0% |
| Nigeria | 1.4 | 0.1 | N/A | 2.7 | 24.5% |
| Egypt | N/A | 0.8 | 0.1 | 1.3 | 27.5% |
| India | 1.0 | 1.4 | 3.8 | 1.3 | 9.1% |
| Others | 17.8 | 21.7 | 17.1 | 13.7 | -8.4% |
| Total | 94.2 | 90.8 | 106 | 131 | 11.6% |
Top Export Markets for Tube or Pipe Butt Welding Fittings of Stainless Steel from South Korea in 2022:
- United States (2761.1 tons)
- China (981.3 tons)
- United Arab Emirates (678.7 tons)
- Saudi Arabia (522.0 tons)
- Nigeria (387.9 tons)
- Qatar (308.1 tons)
- Canada (254.8 tons)
- Japan (214.7 tons)
- Singapore (164.0 tons)
- Malaysia (159.1 tons)
- Egypt (121.6 tons)
- Taiwan (Chinese) (116.9 tons)
- India (112.8 tons)
Imports of Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea
In 2022, imports of tube or pipe butt welding fittings of stainless steels into South Korea skyrocketed to 1.1K tons, jumping by 48% on 2021 figures. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of tube or pipe butt welding fittings of stainless steels soared to $21M in 2022. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 35% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
| Import of Tube or Pipe Butt Welding Fittings of Stainless Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.8 | 4.3 | 7.5 | 8.8 | 46.5% |
| China | 2.1 | 4.2 | 4.8 | 7.0 | 49.4% |
| Italy | 1.6 | 2.4 | 0.4 | 2.0 | 7.7% |
| Vietnam | 0.2 | 0.3 | 0.8 | 0.9 | 65.1% |
| Others | 2.6 | 1.2 | 2.2 | 1.8 | -11.5% |
| Total | 9.2 | 12.4 | 15.6 | 20.6 | 30.8% |
Top Suppliers of Tube or Pipe Butt Welding Fittings of Stainless Steel to South Korea in 2022:
- China (801.3 tons)
- Italy (147.3 tons)
- United States (46.4 tons)
- Vietnam (30.8 tons)
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