Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
- Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (FOB) - 2022
In December 2022, the average export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $746 per ton, falling by -11.5% against the previous month. Overall, the export price saw a pronounced slump. The most prominent rate of growth was recorded in November 2022 an increase of 10% month-to-month. The export price peaked at $962 per ton in May 2022; however, from June 2022 to December 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Spain ($1,091 per ton), while the average price for exports to Japan ($688 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 Mexico (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (CIF) - 2022
In December 2022, the average import price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $785 per ton, with an increase of 1.6% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in April 2022 an increase of 5.1% m-o-m. Over the period under review, average import prices hit record highs at $905 per ton in January 2022; however, from February 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 Japan ($1,132 per ton), while the price for Vietnam ($576 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 Japan (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
After two years of decline, shipments abroad of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses increased by 5.8% to 643K tons in 2022. Overall, exports, however, continue to indicate a perceptible decrease.
In value terms, exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses fell to $426M in 2022. In general, exports, however, continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of 32%. As a result, the exports attained the peak of $484M, and then dropped in the following year.
| Export of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 132 | 63.1 | 117 | 95.0 | -10.4% |
| Japan | 61.2 | 72.5 | 63.0 | 90.4 | 13.9% |
| Malaysia | 80.7 | 45.1 | 64.7 | 59.2 | -9.8% |
| United States | 17.1 | 15.9 | 55.2 | 32.4 | 23.7% |
| Thailand | 37.2 | 44.9 | 35.0 | 29.2 | -7.8% |
| Taiwan (Chinese) | 32.8 | 35.8 | 48.3 | 24.9 | -8.8% |
| Indonesia | 10.6 | 11.3 | 26.7 | 19.7 | 22.9% |
| Hungary | N/A | N/A | 11.5 | 13.3 | 15.7% |
| Slovenia | 18.3 | 10.6 | 11.6 | 11.8 | -13.6% |
| Turkey | 15.1 | 8.8 | 7.1 | 11.1 | -9.7% |
| China | 20.0 | 19.7 | 17.0 | 9.7 | -21.4% |
| Mexico | 4.9 | 2.7 | 4.3 | 7.8 | 16.8% |
| India | 21.6 | 5.5 | 9.3 | 6.5 | -33.0% |
| Others | 24.4 | 31.6 | 13.6 | 14.9 | -15.2% |
| Total | 476 | 367 | 484 | 426 | -3.6% |
Top Export Markets for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from South Korea in 2022:
- Japan (153.6K tons)
- Vietnam (137.2K tons)
- Malaysia (91.1K tons)
- United States (46.6K tons)
- Thailand (41.6K tons)
- Taiwan (Chinese) (36.1K tons)
- Indonesia (26.4K tons)
- Hungary (18.9K tons)
- Slovenia (17.8K tons)
- Turkey (13.7K tons)
- China (12.5K tons)
- Mexico (11.4K tons)
- India (9.2K tons)
Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
In 2022, approx. 541K tons of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses were imported into South Korea; with a decrease of -22.8% against the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 84% against the previous year. As a result, imports attained the peak of 700K tons, and then dropped markedly in the following year.
In value terms, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses contracted dramatically to $387M in 2022. Over the period under review, imports, however, saw pronounced growth. The growth pace was the most rapid in 2021 with an increase of 150%. As a result, imports reached the peak of $553M, and then declined notably in the following year.
| Import of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 179 | 92.4 | 207 | 161 | -3.5% |
| Japan | 143 | 104 | 148 | 119 | -5.9% |
| Vietnam | 1.6 | 0.1 | 41.7 | 34.7 | 178.9% |
| Malaysia | 2.8 | 12.5 | 50.1 | 29.3 | 118.7% |
| Indonesia | N/A | N/A | 31.5 | 19.3 | -38.7% |
| Taiwan (Chinese) | 4.2 | 5.9 | 2.4 | 13.9 | 49.0% |
| India | N/A | N/A | 66.1 | 3.9 | -94.1% |
| Others | 14.4 | 6.6 | 5.5 | 6.3 | -24.1% |
| Total | 345 | 221 | 553 | 387 | 3.9% |
Top Suppliers of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to South Korea in 2022:
- China (256.8K tons)
- Japan (125.2K tons)
- Vietnam (51.7K tons)
- Malaysia (46.1K tons)
- Indonesia (30.2K tons)
- Taiwan (Chinese) (17.3K tons)
- India (5.4K tons)
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