Price for Wire of Other Alloy Steel in South Korea - 2022
Contents:
- Price for Wire of Other Alloy Steel in South Korea (FOB) - 2022
- Price for Wire of Other Alloy Steel in South Korea (CIF) - 2022
- Exports of Wire of Other Alloy Steel in South Korea
- Imports of Wire of Other Alloy Steel in South Korea
Price for Wire of Other Alloy Steel in South Korea (FOB) - 2022
In December 2022, the average export price for wire of other alloy steels amounted to $1,757 per ton, picking up by 7.4% against the previous month. Overall, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($2,400 per ton), while the average price for exports to Japan ($1,374 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in South Korea (CIF) - 2022
The average import price for wire of other alloy steels stood at $2,793 per ton in 2022, with an increase of 12% against the previous year. Overall, the import price posted notable growth. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($4,919 per ton), while the price for Malaysia ($1,447 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Wire of Other Alloy Steel in South Korea
Wire of other alloy steel exports from South Korea contracted sharply to 168K tons in 2022, waning by -24.9% on the year before. In general, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 20%.
In value terms, wire of other alloy steel exports shrank significantly to $280M in 2022. Over the period under review, exports saw a deep downturn. The growth pace was the most rapid in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of $335M, and then declined rapidly in the following year.
| Export of Wire of Other Alloy Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 89.7 | 72.1 | 93.1 | 85.8 | -1.5% |
| China | 69.1 | 54.8 | 51.7 | 34.1 | -21.0% |
| India | 22.5 | 18.9 | 38.8 | 30.2 | 10.3% |
| United States | 25.7 | 21.9 | 28.4 | 29.1 | 4.2% |
| Mexico | 24.2 | 14.8 | 22.5 | 22.6 | -2.3% |
| Indonesia | 13.2 | 6.3 | 17.2 | 14.0 | 2.0% |
| Vietnam | 9.6 | 6.5 | 11.3 | 9.9 | 1.0% |
| Taiwan (Chinese) | 7.1 | 7.8 | 9.3 | 5.2 | -9.9% |
| Others | 67.7 | 48.5 | 62.8 | 48.9 | -10.3% |
| Total | 329 | 252 | 335 | 280 | -5.2% |
Top Export Markets for Wire of Other Alloy Steel from South Korea in 2022:
- Japan (66.3K tons)
- India (20.4K tons)
- China (15.7K tons)
- United States (13.5K tons)
- Mexico (10.7K tons)
- Indonesia (8.9K tons)
- Vietnam (6.1K tons)
- Taiwan (Chinese) (3.0K tons)
Imports of Wire of Other Alloy Steel in South Korea
For the third consecutive year, South Korea recorded decline in supplies from abroad of wire of other alloy steels, which decreased by -31.5% to 15K tons in 2022. Overall, imports showed a precipitous setback. The smallest decline of -8.3% was in 2021.
In value terms, wire of other alloy steel imports fell notably to $42M in 2022. Over the period under review, imports recorded a sharp descent. The most prominent rate of growth was recorded in 2021 with an increase of 13%.
| Import of Wire of Other Alloy Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 45.9 | 28.8 | 32.4 | 25.7 | -17.6% |
| China | 31.1 | 16.7 | 19.3 | 11.1 | -29.1% |
| Vietnam | 0.3 | 0.6 | 0.6 | 2.7 | 108.0% |
| Others | 6.6 | 2.3 | 2.5 | 2.8 | -24.9% |
| Total | 83.9 | 48.5 | 54.8 | 42.2 | -20.5% |
Top Suppliers of Wire of Other Alloy Steel to South Korea in 2022:
- China (7.6K tons)
- Japan (5.2K tons)
- Vietnam (1.8K tons)
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