Price for Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea - 2022

Contents:

1. Price for Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea (CIF) - 2022
2. Price for Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea (FOB) - 2022
3. Imports of Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea
4. Exports of Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea

Price for Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea (CIF) - 2022

The average import price for balances; of a sensitivity of 5cg or better, with or without weightses stood at $144,092 per ton in 2022, rising by 18% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for balances; of a sensitivity of 5cg or better, with or without weightses increased by +28.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 39%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($775,487 per ton), while the price for the Philippines ($64,003 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+12.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea (FOB) - 2022

The average export price for balances; of a sensitivity of 5cg or better, with or without weightses stood at $35,572 per ton in December 2022, shrinking by -27.2% against the previous month. Over the period under review, the export price recorded a slight contraction. The most prominent rate of growth was recorded in October 2022 an increase of 70% month-to-month. As a result, the export price attained the peak level of $71,540 per ton. From November 2022 to December 2022, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Russia ($90,301 per ton), while the average price for exports to Malaysia ($29,606 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 the UK (+2.8%), while the prices for the other major destinations experienced a decline.

Imports of Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea

In 2022, the amount of balances; of a sensitivity of 5cg or better, with or without weightses imported into South Korea declined to 150 tons, waning by -8.7% compared with 2021 figures. The total import volume increased at an average annual rate of +1.6% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 20%. As a result, imports reached the peak of 165 tons, and then shrank in the following year.

In value terms, imports of balances; of a sensitivity of 5cg or better, with or without weightses expanded notably to $22M in 2022. The total import value increased at an average annual rate of +7.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Balances; of A Sensitivity of 5cg or Better, with or Without Weights to South Korea in 2022:

1. China (63.9 tons)
2. Japan (33.7 tons)
3. Germany (20.6 tons)
4. Philippines (17.7 tons)
5. Switzerland (6.6 tons)
6. Poland (3.6 tons)
7. United Kingdom (2.4 tons)

Exports of Balances; of A Sensitivity of 5cg or Better, with or Without Weights in South Korea

In 2022, exports of balances; of a sensitivity of 5cg or better, with or without weightses from South Korea skyrocketed to 109 tons, rising by 20% compared with the year before. The total export volume increased at an average annual rate of +7.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of balances; of a sensitivity of 5cg or better, with or without weightses expanded markedly to $10M in 2022. The total export value increased at an average annual rate of +3.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Balances; of A Sensitivity of 5cg or Better, with or Without Weights from South Korea in 2022:

1. United States (46.8 tons)
2. Japan (11.4 tons)
3. India (10.4 tons)
4. United Kingdom (9.9 tons)
5. Canada (6.4 tons)
6. United Arab Emirates (5.7 tons)
7. Indonesia (3.2 tons)
8. Taiwan (Chinese) (3.1 tons)
9. China (2.6 tons)
10. Thailand (0.8 tons)
11. Vietnam (0.4 tons)

Source: IndexBox Market Intelligence Platform