Price for Ferrous Waste and Scrap; of Cast Iron in South Korea - 2022

Contents:

1. Price for Ferrous Waste and Scrap; of Cast Iron in South Korea (CIF) - 2022
2. Price for Ferrous Waste and Scrap; of Cast Iron in South Korea (FOB) - 2022
3. Imports of Ferrous Waste and Scrap; of Cast Iron in South Korea
4. Exports of Ferrous Waste and Scrap; of Cast Iron in South Korea

Price for Ferrous Waste and Scrap; of Cast Iron in South Korea (CIF) - 2022

In December 2022, the average import price for ferrous waste and scrap; of cast ira amounted to $624 per ton, with an increase of 32% against the previous month. Overall, the import price, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in October 2022 when the average import price increased by 173% month-to-month. The import price peaked at $3,462 per ton in April 2022; however, from May 2022 to December 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the Philippines ($4,650 per ton), while the price for Japan ($475 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 Panama (+2.3%), while the prices for the other major suppliers experienced a decline.

Price for Ferrous Waste and Scrap; of Cast Iron in South Korea (FOB) - 2022

The average export price for ferrous waste and scrap; of cast ira stood at $959 per ton in 2022, increasing by 104% against the previous year. Overall, the export price, however, saw a deep reduction. The export price peaked at $3,230 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($4,482 per ton), while the average price for exports to China amounted to $776 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+24.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Ferrous Waste and Scrap; of Cast Iron in South Korea

In 2022, imports of ferrous waste and scrap; of cast ira into South Korea skyrocketed to 19K tons, with an increase of 49% compared with the previous year. Over the period under review, imports, however, showed a abrupt downturn.

In value terms, imports of ferrous waste and scrap; of cast ira skyrocketed to $18M in 2022. In general, imports recorded a notable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Ferrous Waste and Scrap; of Cast Iron to South Korea in 2022:

1. Japan (9.8K tons)
2. United States (4.4K tons)
3. Mexico (1.5K tons)
4. Philippines (1.2K tons)
5. Northern Mariana Islands (1.0K tons)
6. Panama (1.0K tons)

Exports of Ferrous Waste and Scrap; of Cast Iron in South Korea

In 2022, exports of ferrous waste and scrap; of cast ira from South Korea reduced dramatically to 412 tons, dropping by -86.9% compared with the previous year. Over the period under review, exports saw a significant decrease. The growth pace was the most rapid in 2021 when exports increased by 216% against the previous year.

In value terms, exports of ferrous waste and scrap; of cast ira declined rapidly to $395K in 2022. In general, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2021 with an increase of 102%.

Top Export Markets for Ferrous Waste and Scrap; of Cast Iron from South Korea in 2022:

1. China (391.6 tons)
2. Japan (20.3 tons)

Source: IndexBox Market Intelligence Platform