Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea - 2022
Contents:
- Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea (FOB) - 2022
- Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea (CIF) - 2022
- Exports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea
- Imports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea
Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea (FOB) - 2022
In December 2022, the average export price for iron or steel; non-threaded cotters and cotter-pinses amounted to $12,000 per ton, jumping by 37% against the previous month. In general, export price indicated mild growth from December 2021 to December 2022: its price increased at an average monthly rate of +1.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, export price for iron or steel; non-threaded cotters and cotter-pinses increased by +37.1% against November 2022 indices. The growth pace was the most rapid in March 2022 an increase of 40% m-o-m. As a result, the export price attained the peak level of $15,440 per ton. From April 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was Mexico ($57,473 per ton), while the average price for exports to Japan ($3,066 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 Vietnam (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea (CIF) - 2022
The average import price for iron or steel; non-threaded cotters and cotter-pinses stood at $8,056 per ton in 2022, with an increase of 8.8% against the previous year. Over the period under review, the import price, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2013 when the average import price increased by 40% against the previous year. Over the period under review, average import prices reached the peak figure at $13,605 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($86,020 per ton), while the price for China ($3,549 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced a decline.
Exports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea
In 2022, the amount of iron or steel; non-threaded cotters and cotter-pinses exported from South Korea skyrocketed to 870 tons, growing by 19% on the year before. Overall, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, exports of iron or steel; non-threaded cotters and cotter-pinses soared to $9.1M in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +14.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.
| Export of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3,240 | 2,978 | 3,115 | 2,971 | -2.8% |
| Vietnam | 403 | 518 | 1,038 | 1,842 | 66.0% |
| Mexico | 139 | 101 | 197 | 1,255 | 108.2% |
| United States | 665 | 547 | 760 | 972 | 13.5% |
| India | 452 | 828 | 980 | 815 | 21.7% |
| Uzbekistan | 119 | 160 | 132 | 237 | 25.8% |
| Japan | 102 | 79.0 | 98.0 | 117 | 4.7% |
| Thailand | 92.3 | 137 | 355 | 92.3 | 0.0% |
| United Arab Emirates | 116 | 136 | 173 | 16.9 | -47.4% |
| Others | 755 | 506 | 695 | 808 | 2.3% |
| Total | 6,082 | 5,991 | 7,544 | 9,127 | 14.5% |
Top Export Markets for Iron or Steel; Non-Threaded Cotters and Cotter-Pins from South Korea in 2022:
- China (404.8 tons)
- Vietnam (156.7 tons)
- Mexico (69.6 tons)
- India (59.6 tons)
- United States (48.9 tons)
- Japan (35.5 tons)
- Uzbekistan (28.9 tons)
- Thailand (6.6 tons)
- United Arab Emirates (4.9 tons)
Imports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea
In 2022, approx. 956 tons of iron or steel; non-threaded cotters and cotter-pinses were imported into South Korea; declining by -2.5% compared with the previous year's figure. Overall, imports recorded a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of 12%.
In value terms, imports of iron or steel; non-threaded cotters and cotter-pinses rose remarkably to $7.7M in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.
| Import of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.3 | 2.7 | 3.1 | 3.1 | -2.1% |
| United States | 2.7 | 1.5 | 2.5 | 2.6 | -1.3% |
| Vietnam | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Others | 1.5 | 1.5 | 1.6 | 1.9 | 8.2% |
| Total | 7.6 | 5.7 | 7.3 | 7.7 | 0.4% |
Top Suppliers of Iron or Steel; Non-Threaded Cotters and Cotter-Pins to South Korea in 2022:
- China (860.7 tons)
- United States (30.6 tons)
- Vietnam (25.9 tons)
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