Price for Copper Tube or Pipe Fitting in South Korea - 2022
Contents:
- Price for Copper Tube or Pipe Fitting in South Korea (FOB) - 2022
- Price for Copper Tube or Pipe Fitting in South Korea (CIF) - 2022
- Exports of Copper Tube or Pipe Fitting in South Korea
- Imports of Copper Tube or Pipe Fitting in South Korea
Price for Copper Tube or Pipe Fitting in South Korea (FOB) - 2022
In December 2022, the average export price for tube or pipe fittings, couplings, elbows, sleeves of refined copper amounted to $33,650 per ton, picking up by 39% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.3%. The export price peaked at $35,324 per ton in June 2022; however, from July 2022 to December 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In December 2022, the country with the highest price was the United States ($34,362 per ton), while the average price for exports to Japan ($3,125 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 Thailand (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Copper Tube or Pipe Fitting in South Korea (CIF) - 2022
In December 2022, the average import price for tube or pipe fittings, couplings, elbows, sleeves of refined copper amounted to $16,571 per ton, dropping by -13.9% against the previous month. Over the period under review, the import price continues to indicate a slight downturn. The pace of growth was the most pronounced in November 2022 when the average import price increased by 30% month-to-month. The import price peaked at $20,019 per ton in January 2022; however, from February 2022 to December 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From December 2021 to December 2022, the rate of growth in terms of prices for China amounted to -1.5% per month.
Exports of Copper Tube or Pipe Fitting in South Korea
In 2022, the amount of tube or pipe fittings, couplings, elbows, sleeves of refined copper exported from South Korea expanded rapidly to 2.5K tons, with an increase of 5.1% on the previous year. Overall, exports, however, continue to indicate a slight setback.
In value terms, copper tube or pipe fitting exports expanded rapidly to $74M in 2022. The total export value increased at an average annual rate of +7.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Copper Tube or Pipe Fitting in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 49.5 | 46.1 | 57.3 | 69.1 | 11.8% |
| Thailand | 0.8 | 0.5 | 1.0 | 1.1 | 11.2% |
| Japan | 1.6 | 1.4 | 2.0 | 1.0 | -14.5% |
| Others | 7.5 | 4.6 | 4.0 | 2.4 | -31.6% |
| Total | 59.3 | 52.6 | 64.3 | 73.6 | 7.5% |
Top Export Markets for Copper Tube or Pipe Fitting from South Korea in 2022:
- United States (2294.8 tons)
- Thailand (62.2 tons)
- Japan (52.8 tons)
Imports of Copper Tube or Pipe Fitting in South Korea
In 2022, the amount of tube or pipe fittings, couplings, elbows, sleeves of refined copper imported into South Korea skyrocketed to 537 tons, with an increase of 103% on 2021. In general, imports, however, showed a precipitous decline.
In value terms, copper tube or pipe fitting imports surged to $9.7M in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern.
| Import of Copper Tube or Pipe Fitting in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.7 | 2.7 | 4.5 | 9.7 | 8.0% |
| Israel | 0.7 | 0.2 | 0.2 | N/A | -46.5% |
| United States | 1.1 | 0.1 | 0.1 | N/A | -69.8% |
| Others | 0.4 | 0.2 | 0.1 | 0.1 | -37.0% |
| Total | 10.0 | 3.2 | 4.8 | 9.7 | -1.0% |
Top Suppliers of Copper Tube or Pipe Fitting to South Korea in 2022:
- China (535.6 tons)
- United States (0.4 tons)
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