Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea - 2022
Contents:
- Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea (FOB) - 2022
- Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea (CIF) - 2022
- Exports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea
- Imports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea
Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea (FOB) - 2022
The average export price for tube or pipe butt welding fittings, other than stainless steels stood at $4,604 per ton in December 2022, increasing by 6.6% against the previous month. Over the period from January 2022 to December 2022, it increased at an average monthly rate of +1.7%. The pace of growth was the most pronounced in June 2022 when the average export price increased by 15% against the previous month. Over the period under review, the average export prices attained the peak figure at $4,797 per ton in August 2022; however, from September 2022 to December 2022, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($8,509 per ton), while the average price for exports to Qatar ($3,538 per ton) was amongst the lowest.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea (CIF) - 2022
The average import price for tube or pipe butt welding fittings, other than stainless steels stood at $2,961 per ton in 2022, falling by -16.5% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 71%. Over the period under review, average import prices hit record highs at $5,053 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($8,850 per ton), while the price for Vietnam ($1,860 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea
In 2022, approx. 48K tons of tube or pipe butt welding fittings, other than stainless steels were exported from South Korea; rising by 42% against the previous year's figure. In general, exports, however, saw a perceptible shrinkage.
In value terms, exports of tube or pipe butt welding fittings, other than stainless steels soared to $197M in 2022. Overall, total exports indicated a pronounced expansion from 2019 to 2022: its value increased at an average annual rate of +3.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -8.1% against 2020 indices.
| Export of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 67.2 | 26.9 | 18.5 | 56.8 | -5.5% |
| Saudi Arabia | 19.4 | 15.6 | 14.9 | 24.8 | 8.5% |
| United Arab Emirates | 21.3 | 15.5 | 9.0 | 19.7 | -2.6% |
| Qatar | 0.6 | 0.7 | 3.1 | 16.3 | 200.6% |
| Indonesia | 2.5 | 27.5 | 20.7 | 12.7 | 71.9% |
| China | 9.3 | 20.5 | 6.4 | 10.6 | 4.5% |
| Thailand | 6.5 | 14.2 | 4.7 | 6.8 | 1.5% |
| Vietnam | 6.1 | 20.9 | 2.9 | 6.5 | 2.1% |
| Canada | 3.5 | 5.7 | 1.8 | 5.7 | 17.7% |
| Singapore | 8.2 | 5.8 | 4.4 | 5.5 | -12.5% |
| Mexico | 0.8 | 0.4 | 4.9 | 4.2 | 73.8% |
| Turkey | 1.2 | 0.8 | 0.5 | 3.8 | 46.8% |
| Nigeria | 2.1 | 0.1 | N/A | 2.9 | 11.4% |
| Others | 31.9 | 60.2 | 31.3 | 20.9 | -13.1% |
| Total | 181 | 215 | 123 | 197 | 2.9% |
Top Export Markets for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel from South Korea in 2022:
- United States (16.6K tons)
- Saudi Arabia (5.4K tons)
- Qatar (5.2K tons)
- United Arab Emirates (4.5K tons)
- Indonesia (2.1K tons)
- China (2.1K tons)
- Thailand (1.3K tons)
- Canada (1.2K tons)
- Singapore (1.2K tons)
- Nigeria (1.1K tons)
- Vietnam (1.0K tons)
- Turkey (0.9K tons)
- Mexico (0.9K tons)
Imports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea
In 2022, after two years of decline, there was significant growth in purchases abroad of tube or pipe butt welding fittings, other than stainless steels, when their volume increased by 42% to 6.5K tons. In general, imports, however, faced a abrupt decrease.
In value terms, imports of tube or pipe butt welding fittings, other than stainless steels surged to $19M in 2022. Over the period under review, imports, however, continue to indicate a deep slump.
| Import of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 18.7 | 15.4 | 9.8 | 14.4 | -8.3% |
| Italy | 1.5 | 5.8 | 2.8 | 1.6 | 2.2% |
| Vietnam | 0.5 | 1.3 | 0.5 | 0.6 | 6.3% |
| United States | 0.6 | 0.1 | 0.1 | 0.4 | -12.6% |
| Others | 2.2 | 2.1 | 3.0 | 2.2 | 0.0% |
| Total | 23.5 | 24.7 | 16.2 | 19.2 | -6.5% |
Top Suppliers of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel to South Korea in 2022:
- China (5.8K tons)
- Vietnam (0.3K tons)
- Italy (0.2K tons)
- United States (0.1K tons)
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