Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea - 2022
Contents:
- Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea (CIF) - 2022
- Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea (FOB) - 2022
- Imports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea
- Exports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea
Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea (CIF) - 2022
In 2022, the average import price for tungsten (wolfram); articles thereof, including waste and scrap amounted to $49,471 per ton, remaining relatively unchanged against the previous year. Overall, the import price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 11%. The import price peaked at $99,859 per ton in 2012; however, from 2013 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 the United States ($204,565 per ton), while the price for Vietnam ($16,471 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.4%), while the prices for the other major suppliers experienced a decline.
Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea (FOB) - 2022
The average export price for tungsten (wolfram); articles thereof, including waste and scrap stood at $38,325 per ton in 2022, increasing by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2021 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices attained the maximum at $46,404 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
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 Vietnam ($109,603 per ton), while the average price for exports to Malaysia ($4,665 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 (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea
For the fourth consecutive year, South Korea recorded growth in supplies from abroad of tungsten (wolfram); articles thereof, including waste and scrap, which increased by 3.2% to 1.8K tons in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of tungsten (wolfram); articles thereof, including waste and scrap expanded to $89M in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +16.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 42%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.
| Import of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 33.9 | 38.4 | 57.7 | 59.6 | 20.7% |
| Japan | 14.2 | 14.0 | 21.8 | 22.7 | 16.9% |
| Taiwan (Chinese) | 0.7 | 0.5 | 0.9 | 1.4 | 26.0% |
| Vietnam | 0.5 | 1.2 | 0.5 | 0.1 | -41.5% |
| Others | 6.6 | 6.0 | 4.6 | 5.4 | -6.5% |
| Total | 56.0 | 60.2 | 85.5 | 89.2 | 16.8% |
Top Suppliers of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap to South Korea in 2022:
- China (1247.2 tons)
- Japan (442.1 tons)
- Taiwan (Chinese) (56.7 tons)
- Vietnam (7.9 tons)
Exports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea
In 2022, approx. 864 tons of tungsten (wolfram); articles thereof, including waste and scrap were exported from South Korea; growing by 5.5% on the previous year. The total export volume increased at an average annual rate of +2.4% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. As a result, the exports reached the peak of 928 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of tungsten (wolfram); articles thereof, including waste and scrap skyrocketed to $33M in 2022. In general, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +13.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see steady growth in the immediate term.
| Export of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 1.3 | 1.3 | 5.8 | 7.2 | 76.9% |
| United States | 4.2 | 6.1 | 5.7 | 6.7 | 16.8% |
| United Kingdom | 0.8 | 2.2 | 2.3 | 3.1 | 57.1% |
| Japan | 3.5 | 2.1 | 3.1 | 2.7 | -8.3% |
| Taiwan (Chinese) | 2.5 | 2.0 | 1.0 | 1.8 | -10.4% |
| Singapore | 0.4 | 0.3 | N/A | 1.8 | 65.1% |
| India | 2.0 | 1.5 | 1.6 | 1.6 | -7.2% |
| Germany | 0.4 | 0.1 | 0.4 | 1.0 | 35.7% |
| Malaysia | 1.2 | 1.2 | 0.3 | 0.2 | -45.0% |
| Others | 6.4 | 6.3 | 7.7 | 7.1 | 3.5% |
| Total | 22.7 | 23.0 | 27.9 | 33.1 | 13.4% |
Top Export Markets for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap from South Korea in 2022:
- United States (236.1 tons)
- Singapore (117.0 tons)
- United Kingdom (97.6 tons)
- Taiwan (Chinese) (93.6 tons)
- Vietnam (65.3 tons)
- Japan (63.4 tons)
- India (41.2 tons)
- Germany (39.1 tons)
- Malaysia (35.4 tons)
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