Price for Iron Oxides and Hydroxides in South Korea - 2022
Contents:
- Price for Iron Oxides and Hydroxides in South Korea (FOB) - 2022
- Price for Iron Oxides and Hydroxides in South Korea (CIF) - 2022
- Exports of Iron Oxides and Hydroxides in South Korea
- Imports of Iron Oxides and Hydroxides in South Korea
Price for Iron Oxides and Hydroxides in South Korea (FOB) - 2022
In 2022, the average iron oxides and hydroxides export price amounted to $548 per ton, rising by 28% against the previous year. In general, the export price posted modest growth. The growth pace was the most rapid in 2016 when the average export price increased by 73%. Over the period under review, the average export prices reached the maximum at $1,036 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($836 per ton), while the average price for exports to Saudi Arabia ($400 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 China (+3.4%), while the prices for the other major destinations experienced a decline.
Price for Iron Oxides and Hydroxides in South Korea (CIF) - 2022
The average iron oxides and hydroxides import price stood at $1,237 per ton in 2022, with a decrease of -2.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2020 when the average import price increased by 19%. Over the period under review, average import prices reached the maximum at $1,273 per ton in 2021, and then fell in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($2,576 per ton), while the price for Vietnam ($194 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron Oxides and Hydroxides in South Korea
After three years of growth, overseas shipments of iron oxides and hydroxideses decreased by -44.7% to 54K tons in 2022. Overall, exports, however, continue to indicate a pronounced increase. The pace of growth was the most pronounced in 2021 with an increase of 77% against the previous year. As a result, the exports reached the peak of 97K tons, and then contracted markedly in the following year.
In value terms, iron oxides and hydroxides exports dropped sharply to $29M in 2022. Over the period under review, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 143%. As a result, the exports reached the peak of $42M, and then contracted remarkably in the following year.
| Export of Iron Oxides and Hydroxides in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 15.0 | 12.7 | 35.2 | 24.8 | 18.2% |
| United States | 1.3 | 0.6 | 1.2 | 0.8 | -14.9% |
| Vietnam | 0.8 | 0.8 | 0.9 | 0.6 | -9.1% |
| Saudi Arabia | 0.7 | 0.3 | 0.7 | 0.5 | -10.6% |
| Others | 2.0 | 2.7 | 3.5 | 2.5 | 7.7% |
| Total | 19.9 | 17.1 | 41.6 | 29.3 | 13.8% |
Top Export Markets for Iron Oxides and Hydroxides from South Korea in 2022:
- China (46.8K tons)
- Vietnam (1.4K tons)
- Saudi Arabia (1.3K tons)
- United States (1.0K tons)
Imports of Iron Oxides and Hydroxides in South Korea
In 2022, iron oxides and hydroxides imports into South Korea dropped to 17K tons, waning by -5.6% on 2021. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2021 when imports increased by 9.2% against the previous year.
In value terms, iron oxides and hydroxides imports reduced to $21M in 2022. Overall, imports saw a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 20%. As a result, imports attained the peak of $23M, and then dropped in the following year.
| Import of Iron Oxides and Hydroxides in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 8.7 | 8.1 | 11.0 | 9.9 | 4.4% |
| Germany | 7.4 | 6.0 | 6.7 | 6.1 | -6.2% |
| Japan | 2.3 | 2.1 | 2.2 | 2.0 | -4.6% |
| Brazil | 0.2 | 0.6 | 0.6 | 0.5 | 35.7% |
| Vietnam | 0.5 | 0.3 | 0.6 | 0.5 | 0.0% |
| Spain | 0.1 | 0.2 | 0.2 | 0.2 | 26.0% |
| India | 0.2 | 0.2 | N/A | 0.1 | -20.6% |
| Others | 2.6 | 1.9 | 2.0 | 2.1 | -6.9% |
| Total | 22.0 | 19.4 | 23.3 | 21.3 | -1.1% |
Top Suppliers of Iron Oxides and Hydroxides to South Korea in 2022:
- China (8.2K tons)
- Vietnam (2.6K tons)
- Germany (2.4K tons)
- Japan (1.4K tons)
- Brazil (0.9K tons)
- India (0.7K tons)
- Spain (0.4K tons)
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