Price for Copper; Refined, Unwrought, Billets in South Korea - 2022

Contents:

1. Price for Copper; Refined, Unwrought, Billets in South Korea (CIF) - 2022
2. Price for Copper; Refined, Unwrought, Billets in South Korea (FOB) - 2022
3. Imports of Copper; Refined, Unwrought, Billets in South Korea
4. Exports of Copper; Refined, Unwrought, Billets in South Korea

Price for Copper; Refined, Unwrought, Billets in South Korea (CIF) - 2022

In December 2022, the average copper; refined, unwrought, billets import price amounted to $9,766 per ton, with an increase of 4.8% against the previous month. Overall, the import price, however, saw a slight shrinkage. The pace of growth was the most pronounced in May 2022 when the average import price increased by 13% month-to-month. As a result, import price reached the peak level of $13,270 per ton. From June 2022 to December 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In December 2022, the countries with the highest prices were Japan ($11,899 per ton) and China ($9,860 per ton), while the price for Germany ($7,936 per ton) and Austria ($8,273 per ton) were amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Japan (+0.4%), while the prices for the other major suppliers experienced a decline.

Price for Copper; Refined, Unwrought, Billets in South Korea (FOB) - 2022

The average copper; refined, unwrought, billets export price stood at $8,988 per ton in 2022, falling by -6.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 145%. Over the period under review, the average export prices reached the peak figure at $9,664 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 the United States ($25,890 per ton), while the average price for exports to Taiwan (Chinese) ($7,629 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 India (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper; Refined, Unwrought, Billets in South Korea

For the third year in a row, South Korea recorded decline in supplies from abroad of copper; refined, unwrought, billetses, which decreased by -6.1% to 2K tons in 2022. Overall, imports recorded a drastic downturn. The smallest decline of -2.6% was in 2021.

In value terms, copper; refined, unwrought, billets imports contracted to $20M in 2022. The total import value increased at an average annual rate of +7.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 35%. As a result, imports reached the peak of $22M, and then dropped in the following year.

Top Suppliers of Copper; Refined, Unwrought, Billets to South Korea in 2022:

1. Japan (807.1 tons)
2. China (649.5 tons)
3. Germany (270.7 tons)
4. Austria (243.1 tons)

Exports of Copper; Refined, Unwrought, Billets in South Korea

In 2022, approx. 425 tons of copper; refined, unwrought, billetses were exported from South Korea; jumping by 169% compared with 2021. Over the period under review, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper; refined, unwrought, billets exports surged to $3.8M in 2022. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Copper; Refined, Unwrought, Billets from South Korea in 2022:

1. Japan (400.7 tons)
2. Taiwan (Chinese) (19.3 tons)
3. India (5.1 tons)
4. United States (0.1 tons)

Source: IndexBox Market Intelligence Platform