Republic of Korea - Hot-Rolled Bars Of Silico-Manganese Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Hot-Rolled Silico-Manganese Steel Bar in South Korea - 2022
Contents:
- Price for Hot-Rolled Silico-Manganese Steel Bar in South Korea (FOB) - 2022
- Price for Hot-Rolled Silico-Manganese Steel Bar in South Korea (CIF) - 2022
- Exports of Hot-Rolled Silico-Manganese Steel Bar in South Korea
- Imports of Hot-Rolled Silico-Manganese Steel Bar in South Korea
Price for Hot-Rolled Silico-Manganese Steel Bar in South Korea (FOB) - 2022
The average hot-rolled silico-manganese steel bar export price stood at $1,300 per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2017 an increase of 3% against the previous year. Over the period under review, the average export prices reached the peak figure at $1,708 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Poland ($1,490 per ton) and Germany ($1,448 per ton), while the average price for exports to Mexico ($1,112 per ton) and Indonesia ($1,168 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-0.1%), while the prices for the other major destinations experienced a decline.
Price for Hot-Rolled Silico-Manganese Steel Bar in South Korea (CIF) - 2022
The average hot-rolled silico-manganese steel bar import price stood at $962 per ton in 2022, remaining constant against the previous year. Overall, the import price recorded a noticeable increase. The growth pace was the most rapid in 2013 when the average import price increased by 50% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($1,138 per ton), while the price for Italy ($522 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+17.1%), while the prices for the other major suppliers experienced a decline.
Exports of Hot-Rolled Silico-Manganese Steel Bar in South Korea
After three years of growth, overseas shipments of hot-rolled bars of silico-manganese steel decreased by -6.6% to 36K tons in 2022. The total export volume increased at an average annual rate of +7.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 15%.
In value terms, hot-rolled silico-manganese steel bar exports fell to $47M in 2022. The total export value increased at an average annual rate of +8.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 18%.
| Export of Hot-Rolled Silico-Manganese Steel Bar in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Venezuela | 14.7 | 22.8 | 23.6 | 28.7 | 25.0% |
| Germany | 3.0 | 4.5 | 4.4 | 5.1 | 19.3% |
| China | 2.3 | 2.9 | 3.4 | 3.5 | 15.0% |
| Indonesia | 8.8 | 7.7 | 0.6 | 2.4 | -35.2% |
| Mexico | N/A | N/A | N/A | 2.3 | 0% |
| Colombia | 1.1 | 0.6 | 1.9 | 1.9 | 20.0% |
| Poland | 4.5 | 3.3 | 1.7 | 0.6 | -48.9% |
| Others | 2.1 | 1.3 | 15.7 | 2.6 | 7.4% |
| Total | 36.5 | 43.2 | 51.2 | 47.2 | 8.9% |
Top Export Markets for Hot-Rolled Silico-Manganese Steel Bar from South Korea in 2022:
- Venezuela (22.6K tons)
- Germany (3.5K tons)
- China (2.7K tons)
- Mexico (2.1K tons)
- Indonesia (2.1K tons)
- Colombia (1.5K tons)
- Poland (0.4K tons)
Imports of Hot-Rolled Silico-Manganese Steel Bar in South Korea
In 2022, approx. 212 tons of hot-rolled bars of silico-manganese steel were imported into South Korea; waning by -7.6% on the year before. Overall, imports showed a abrupt downturn. The smallest decline of -2.1% was in 2021.
In value terms, hot-rolled silico-manganese steel bar imports contracted to $204K in 2022. The total import value increased at an average annual rate of +8.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 17% against the previous year.
| Import of Hot-Rolled Silico-Manganese Steel Bar in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 16.9 | 13.6 | 27.6 | 108 | 85.6% |
| Sweden | 55.6 | 117 | 139 | 68.9 | 7.4% |
| China | 20.4 | 32.3 | 26.1 | 12.9 | -14.2% |
| Italy | 5.5 | 15.5 | 18.3 | 9.0 | 17.8% |
| Vietnam | 55.6 | N/A | N/A | N/A | 0% |
| Others | 6.9 | 9.7 | 8.6 | 4.5 | -13.3% |
| Total | 161 | 188 | 219 | 204 | 8.2% |
Top Suppliers of Hot-Rolled Silico-Manganese Steel Bar to South Korea in 2022:
- Japan (99.5 tons)
- Sweden (80.5 tons)
- Italy (17.3 tons)
- China (11.3 tons)
This report provides an in-depth analysis of the market for hot-rolled silico-manganese steel bar 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 24106620 - Hot-rolled bars of silico-manganese steel
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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