Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea - 2022

Contents:

1. Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea (CIF) - 2022
2. Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea (FOB) - 2022
3. Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea
4. Exports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea

Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea (CIF) - 2022

In December 2022, the average import price for aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses amounted to $6,050 per ton, surging by 15% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $6,892 per ton in August 2022; however, from September 2022 to December 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($10,506 per ton), while the price for China ($4,924 per ton) was amongst the lowest.

From December 2021 to December 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 more modest paces of growth.

Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea (FOB) - 2022

The average export price for aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses stood at $4,770 per ton in December 2022, waning by -39.1% against the previous month. Overall, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in April 2022 an increase of 105% month-to-month. As a result, the export price attained the peak level of $15,352 per ton. From May 2022 to December 2022, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was Thailand ($9,271 per ton), while the average price for exports to Vietnam ($3,792 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 Uganda (+1.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea

In 2022, after three years of growth, there was significant decline in supplies from abroad of aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses, when their volume decreased by -8.1% to 2.7K tons. The total import volume increased at an average annual rate of +8.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 19%.

In value terms, imports of aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses rose significantly to $17M in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +17.4% 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 +62.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Top Suppliers of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less to South Korea in 2022:

1. China (1561.9 tons)
2. Japan (468.2 tons)
3. United States (267.2 tons)
4. France (143.1 tons)
5. Canada (98.5 tons)
6. Slovenia (56.5 tons)

Exports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in South Korea

In 2022, the amount of aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses exported from South Korea contracted to 176 tons, reducing by -5.1% compared with 2021. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 80%.

In value terms, exports of aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses dropped to $1.3M in 2022. Over the period under review, exports continue to indicate a slight slump. The pace of growth appeared the most rapid in 2021 with an increase of 58%. As a result, the exports reached the peak of $1.4M, and then contracted in the following year.

Top Export Markets for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less from South Korea in 2022:

1. Japan (68.8 tons)
2. Vietnam (41.6 tons)
3. Thailand (41.1 tons)
4. China (15.9 tons)
5. Uganda (7.5 tons)

Source: IndexBox Market Intelligence Platform