Republic of Korea - Aluminum (Unwrought, Not Alloyed) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAluminium Price in South Korea - 2022
Contents:
- Aluminium Price in South Korea (CIF) - 2022
- Aluminium Price in South Korea (FOB) - 2022
- Aluminium Imports in South Korea
- Aluminium Exports in South Korea
Aluminium Price in South Korea (CIF) - 2022
In December 2022, the average aluminium import price amounted to $2,503 per ton, picking up by 2.3% against the previous month. In general, the import price, however, showed a mild contraction. The most prominent rate of growth was recorded in February 2022 an increase of 8.2% m-o-m. Over the period under review, average import prices hit record highs at $3,526 per ton in April 2022; however, from May 2022 to December 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the highest price was recorded for prices from the United Arab Emirates ($2,579 per ton) and Malaysia ($2,532 per ton), while the price for Russia ($2,307 per ton) and Saudi Arabia ($2,378 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 the United Arab Emirates (-1.3%), while the prices for the other major suppliers experienced a decline.
Aluminium Price in South Korea (FOB) - 2022
The average aluminium export price stood at $3,334 per ton in 2022, dropping by -11.3% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium export price increased by +75.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 66% against the previous year. As a result, the export price reached the peak level of $3,758 per ton, and then fell in the following year.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($6,283 per ton), while the average price for exports to Japan ($1,436 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 Iran (+44.4%), while the prices for the other major destinations experienced more modest paces of growth.
Aluminium Imports in South Korea
In 2022, approx. 1.1M tons of aluminum (unwrought, not alloyed) were imported into South Korea; dropping by -6.1% compared with the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 10% against the previous year. As a result, imports reached the peak of 1.1M tons, and then contracted in the following year.
In value terms, aluminium imports amounted to $3.1B in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +15.2% 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 +68.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 60% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Aluminium in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 783 | 688 | 1,782 | 1,544 | 25.4% |
| Australia | 542 | 652 | 621 | 569 | 1.6% |
| Malaysia | 239 | 162 | 242 | 402 | 18.9% |
| New Zealand | 60.1 | 87.8 | 148 | 161 | 38.9% |
| United Arab Emirates | 6.6 | 49.7 | 28.2 | 134 | 172.8% |
| Saudi Arabia | 64.5 | 67.9 | 13.7 | 124 | 24.3% |
| Russia | 222 | 68.5 | 61.9 | 101 | -23.1% |
| Bahrain | 44.0 | 27.2 | 33.4 | 75.0 | 19.5% |
| Others | 86.1 | 60.6 | 58.1 | 23.0 | -35.6% |
| Total | 2,048 | 1,863 | 2,987 | 3,133 | 15.2% |
Top Suppliers of Aluminium to South Korea in 2022:
- India (523.6K tons)
- Australia (198.1K tons)
- Malaysia (142.0K tons)
- New Zealand (53.3K tons)
- United Arab Emirates (43.8K tons)
- Saudi Arabia (43.0K tons)
- Russia (37.7K tons)
- Bahrain (24.2K tons)
Aluminium Exports in South Korea
In 2022, shipments abroad of aluminum (unwrought, not alloyed) decreased by -16.7% to 945 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 382% against the previous year. As a result, the exports reached the peak of 2.5K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, aluminium exports reduced remarkably to $3.2M in 2022. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 469%. As a result, the exports reached the peak of $5.8M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Aluminium in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.2 | 4.8 | 1.7 | 1.9 | 111.8% |
| Japan | 0.7 | 0.5 | 0.7 | 0.7 | 0.0% |
| Vietnam | N/A | 0.4 | 0.9 | 0.4 | 0.0% |
| Italy | N/A | N/A | N/A | 0.1 | 0% |
| Canada | N/A | N/A | 0.9 | N/A | 0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 1.0 | 5.8 | 4.3 | 3.2 | 47.4% |
Top Export Markets for Aluminium from South Korea in 2022:
- Japan (466.6 tons)
- China (299.4 tons)
- Vietnam (119.9 tons)
- Italy (50.2 tons)
This report provides an in-depth analysis of the aluminium market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24421130 - Unwrought non-alloy aluminium (excluding powders and flakes)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the aluminium market in Republic of Korea.
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This report provides an in-depth analysis of the aluminum market in Republic of Korea.
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This report provides an in-depth analysis of the unwrought aluminium alloys market in Republic of Korea.
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This report provides an in-depth analysis of the aluminium and titanium market in Republic of Korea.
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This report provides an in-depth analysis of the global aluminium market.
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This report provides an in-depth analysis of the global aluminum market.
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This report provides an in-depth analysis of the global unwrought aluminium alloys market.
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This report provides an in-depth analysis of the global aluminium and titanium market.
842
This report provides an in-depth analysis of the aluminium market in Republic of Korea.
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This report provides an in-depth analysis of the aluminum market in Republic of Korea.
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The global aluminium industry relies heavily on import and export markets to meet the growing demand for this versatile metal. Aluminium is used in various industries, including construction, automotive, packaging, and aerospace, making it one of the most sought-after commodities worldwide. In this article, we will explore the world's best import markets for aluminium, providing key statistics and insights.
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In 2016, approx. X tons of aluminium were imported worldwide- remaining relatively unchanged against the previous year figure. The total import volume increased at an average annual rate of +X>
861
In 2016, approx. X tons of aluminium were imported worldwide- remaining relatively unchanged against the previous year figure. The total import volume increased at an average annual rate of +X>
1906
The global trade in unwrought aluminum amounted to X million USD in 2015, showing strong fluctuations over the period under review. A significant drop in 2009 was followed by recovery over the next two years, until exports decreased again. Overall
3019
Despite a drop in exports in 2014, Canada continued to dominate in the global unwrought, not alloyed aluminium trade. Canada exported X thousand tons of unwrought, not alloyed aluminium in 2014, totaling X million USD, X% under the previous
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Discover the top import markets for aluminum worldwide and their import values in 2022. Learn about the leading countries like the United States, Netherlands, Germany, Japan, China, and more. Find key statistics and insights on the global aluminum market.
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Throughout this year, global aluminum prices continuously grew and in October 2021 gained 62% compared to October 2020. China's output has decreased due to restrictions on energy usage and halted production at a 300K-ton capacity factory in Yunnan province. As a consequence, the average yearly price in 2022 is projected to rise by 6% y-o-y. Despite rising prices, the U.S., the world´s largest aluminum importer, expanded its purchases by 4.5% against 2020.
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Prices for aluminum this year will remain low thanks to the consistent growth in global production of the metal overcoming obstacles caused by the pandemic. In the mid-term, demand for aluminum in the construction sector and car manufacturing is forecast to steadily rise. The rapid development of alternative energy sources will also drive the market up because aluminum is used in the production of solar batteries, wind generators and other components of energy facilities. In China, the launch of quotas on greenhouse gas emissions could lead to higher prices for aluminum as production for the metal in the country leaves a heavy carbon footprint.
994
In value terms, aluminium casks, drums, cans, boxes imports stood at $X in 2016. In general, aluminium casks, drums, cans, boxes imports continue to indicate a relatively flat trend pattern. Global...
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In value terms, aluminum reservoirs, tanks and vats imports stood at $X in 2016. Overall, aluminum reservoirs, tanks and vats imports continue to indicate a slight slump. Over the period under revi...
