Price for Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea - 2022

Contents:

1. Price for Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea (CIF) - 2022
2. Price for Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea (FOB) - 2022
3. Imports of Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea
4. Exports of Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea

Price for Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea (CIF) - 2022

In 2022, the average import price for iron; alloy pig iron, spiegeleisen, in pigs, blocks or other primary formses amounted to $98,670 per ton, jumping by 5,406% against the previous year. Overall, the import price continues to indicate a significant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +33.1% per year.

Price for Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea (FOB) - 2022

In 2022, the average export price for iron; alloy pig iron, spiegeleisen, in pigs, blocks or other primary formses amounted to $1,252 per ton, approximately equating the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 131% against the previous year. Over the period under review, the average export prices reached the maximum at $4,307 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($9,250 per ton), while the average price for exports to Japan ($128 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea

Imports of iron; alloy pig iron, spiegeleisen, in pigs, blocks or other primary formses into South Korea reduced sharply to 203 kg in 2022, with a decrease of -99.7% against the previous year. Overall, imports showed a significant decline. The smallest decline of -71.3% was in 2020.

In value terms, imports of iron; alloy pig iron, spiegeleisen, in pigs, blocks or other primary formses plummeted to $20K in 2022. Over the period under review, imports faced a significant decline. The smallest decline of -61.2% was in 2021.

Top Suppliers of Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms to South Korea in 2022:

1. China (203.0 kg)

Exports of Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms in South Korea

In 2022, after two years of decline, there was significant growth in shipments abroad of iron; alloy pig iron, spiegeleisen, in pigs, blocks or other primary formses, when their volume increased by 14% to 482 tons. Over the period under review, exports, however, recorded a deep contraction.

In value terms, exports of iron; alloy pig iron, spiegeleisen, in pigs, blocks or other primary formses rose markedly to $603K in 2022. In general, exports, however, saw a abrupt decrease.

Top Export Markets for Iron; Alloy Pig Iron, Spiegeleisen, in Pigs, Blocks or Other Primary Forms from South Korea in 2022:

1. Vietnam (176.0 tons)
2. Japan (131.3 tons)
3. Saudi Arabia (117.5 tons)
4. China (35.8 tons)
5. Costa Rica (8.3 tons)

Source: IndexBox Market Intelligence Platform