Price for Metals; Platinum, Unwrought or in Powder Form in South Korea - 2022

Contents:

1. Price for Metals; Platinum, Unwrought or in Powder Form in South Korea (FOB) - 2022
2. Price for Metals; Platinum, Unwrought or in Powder Form in South Korea (CIF) - 2022
3. Exports of Metals; Platinum, Unwrought or in Powder Form in South Korea
4. Imports of Metals; Platinum, Unwrought or in Powder Form in South Korea

Price for Metals; Platinum, Unwrought or in Powder Form in South Korea (FOB) - 2022

The average export price for metals; platinum, unwrought or in powder forms stood at $33.1M per ton in December 2022, growing by 5.2% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 an increase of 7.9% against the previous month. Over the period under review, the average export prices attained the peak figure at $34.3M per ton in March 2022; afterwards, it flattened through to December 2022.

Average prices varied noticeably for the major overseas markets. In December 2022, the country with the highest price was Japan ($33.4M per ton), while the average price for exports to the United States ($32.4M 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 Japan (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Metals; Platinum, Unwrought or in Powder Form in South Korea (CIF) - 2022

In 2022, the average import price for metals; platinum, unwrought or in powder forms amounted to $32,228,654 per ton, shrinking by -13.9% against the previous year. Over the period under review, the import price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 an increase of 112%. The import price peaked at $49,941,981 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the UK ($37,634,998 per ton) and Belgium ($32,285,052 per ton), while the price for Japan ($28,951,512 per ton) and South Africa ($30,616,445 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.9%), while the prices for the other major suppliers experienced a decline.

Exports of Metals; Platinum, Unwrought or in Powder Form in South Korea

For the fourth consecutive year, South Korea recorded growth in overseas shipments of metals; platinum, unwrought or in powder forms, which increased by 0.1% to 3.8 tons in 2022. Over the period under review, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +24.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +92.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 72%. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, exports of metals; platinum, unwrought or in powder forms fell to $116M in 2022. In general, exports saw a significant increase. The growth pace was the most rapid in 2020 with an increase of 74% against the previous year.

Top Export Markets for Metals; Platinum, Unwrought or in Powder Form from South Korea in 2022:

1. United States (1277.0 kg)
2. Japan (959.0 kg)
3. Hong Kong SAR (735.0 kg)
4. United Kingdom (675.0 kg)
5. Switzerland (99.0 kg)

Imports of Metals; Platinum, Unwrought or in Powder Form in South Korea

In 2022, purchases abroad of metals; platinum, unwrought or in powder forms decreased by -34% to 3 tons, falling for the second consecutive year after two years of growth. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 177% against the previous year. As a result, imports attained the peak of 6.3 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of metals; platinum, unwrought or in powder forms shrank sharply to $98M in 2022. Over the period under review, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 70%.

Top Suppliers of Metals; Platinum, Unwrought or in Powder Form to South Korea in 2022:

1. South Africa (1826.0 kg)
2. United Kingdom (605.0 kg)
3. Belgium (211.0 kg)
4. United States (185.0 kg)
5. Japan (162.0 kg)
6. Germany (24.0 kg)

Source: IndexBox Market Intelligence Platform