Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (FOB) - 2022
In December 2022, the average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $736 per ton, jumping by 84% against the previous month. Overall, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in March 2022 an increase of 201% month-to-month. As a result, the export price reached the peak level of $1,347 per ton. From April 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($881 per ton), while the average price for exports to Malaysia ($338 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 China (+6.7%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $954 per ton, waning by -52.6% against the previous year. Over the period under review, the import price, however, saw a modest expansion. The growth pace was the most rapid in 2020 when the average import price increased by 100% against the previous year. The import price peaked at $2,012 per ton in 2021, and then fell sharply in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($7,070 per ton), while the price for Japan stood at $684 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.8%), while the prices for the other major suppliers experienced a decline.
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
Exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s from South Korea skyrocketed to 7.9K tons in 2022, jumping by 55% compared with 2021 figures. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 with an increase of 290% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $5.8M in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 165% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | 401 | 1,325 | 2,960 | 171.7% |
| Japan | 438 | 434 | 638 | 2,282 | 73.4% |
| Malaysia | N/A | 10.2 | 139 | 305 | 446.8% |
| Thailand | N/A | N/A | N/A | 72.2 | 0% |
| Others | 117 | 27.5 | 209 | 163 | 11.7% |
| Total | 554 | 872 | 2,311 | 5,783 | 118.5% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from South Korea in 2022:
- China (4.5K tons)
- Japan (2.1K tons)
- Malaysia (1.1K tons)
- Thailand (0.1K tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea
After two years of decline, overseas purchases of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s increased by 330% to 89 tons in 2022. Over the period under review, imports, however, faced a dramatic slump.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s skyrocketed to $85K in 2022. In general, imports, however, showed a dramatic curtailment.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 111 | N/A | N/A | 59.1 | -18.9% |
| China | 283 | 5.1 | 3.5 | 19.1 | -59.3% |
| Malaysia | 129 | 28.5 | 38.2 | N/A | -45.6% |
| United States | 45.4 | 2.7 | N/A | N/A | -94.1% |
| Canada | 84.6 | N/A | N/A | N/A | 0% |
| Others | 1.1 | 0.1 | N/A | 6.9 | 84.4% |
| Total | 654 | 36.5 | 41.7 | 85.1 | -49.3% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to South Korea in 2022:
- Japan (86.5 tons)
- China (2.7 tons)
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