Price for Vanadium Oxides and Hydroxides in South Korea - 2022
Contents:
- Price for Vanadium Oxides and Hydroxides in South Korea (CIF) - 2022
- Price for Vanadium Oxides and Hydroxides in South Korea (FOB) - 2022
- Imports of Vanadium Oxides and Hydroxides in South Korea
- Exports of Vanadium Oxides and Hydroxides in South Korea
Price for Vanadium Oxides and Hydroxides in South Korea (CIF) - 2022
The average vanadium oxides and hydroxides import price stood at $17,870 per ton in 2022, increasing by 26% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vanadium oxides and hydroxides import price increased by +56.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 54%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($18,451 per ton), while the price for South Africa ($14,864 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Vanadium Oxides and Hydroxides in South Korea (FOB) - 2022
In December 2022, the average vanadium oxides and hydroxides export price amounted to $3,968 per ton, waning by -35.7% against the previous month. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in January 2022 an increase of 311% m-o-m. The export price peaked at $22,465 per ton in March 2022; however, from April 2022 to December 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was the Netherlands ($16,785 per ton), while the average price for exports to Japan stood at $2,748 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.4%), while the prices for the other major destinations experienced a decline.
Imports of Vanadium Oxides and Hydroxides in South Korea
In 2022, approx. 4.8K tons of vanadium oxides and hydroxideses were imported into South Korea; shrinking by -9.3% against the previous year's figure. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year.
In value terms, vanadium oxides and hydroxides imports amounted to $86M in 2022. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 67%.
| Import of Vanadium Oxides and Hydroxides in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 34.7 | 14.8 | 30.5 | 45.0 | 9.1% |
| China | 65.4 | 25.6 | 31.0 | 37.6 | -16.8% |
| South Africa | 2.5 | 2.4 | 10.4 | 1.8 | -10.4% |
| Others | 5.8 | 2.3 | 3.3 | 1.2 | -40.9% |
| Total | 108 | 45.1 | 75.1 | 85.6 | -7.5% |
Top Suppliers of Vanadium Oxides and Hydroxides to South Korea in 2022:
- Brazil (2.4K tons)
- China (2.2K tons)
- South Africa (0.1K tons)
Exports of Vanadium Oxides and Hydroxides in South Korea
For the fourth consecutive year, South Korea recorded growth in overseas shipments of vanadium oxides and hydroxideses, which increased by 21% to 4.9K tons in 2022. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 66% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, vanadium oxides and hydroxides exports reduced to $20M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 74% against the previous year. As a result, the exports reached the peak of $21M, and then fell in the following year.
| Export of Vanadium Oxides and Hydroxides in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.6 | 0.6 | 7.0 | 9.8 | 83.0% |
| Japan | 5.8 | 3.6 | 5.4 | 5.7 | -0.6% |
| Netherlands | 2.0 | 0.3 | 0.8 | 4.4 | 30.1% |
| China | 3.0 | 7.0 | 7.7 | N/A | 60.2% |
| Others | 1.9 | 0.5 | N/A | N/A | -73.7% |
| Total | 14.3 | 12.0 | 21.0 | 19.9 | 11.6% |
Top Export Markets for Vanadium Oxides and Hydroxides from South Korea in 2022:
- Japan (4.2K tons)
- India (0.5K tons)
- Netherlands (0.2K tons)
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