Price for Nickel; Bars, Rods, Profiles and Wire in South Korea - 2022
Contents:
- Price for Nickel; Bars, Rods, Profiles and Wire in South Korea (CIF) - 2022
- Price for Nickel; Bars, Rods, Profiles and Wire in South Korea (FOB) - 2022
- Imports of Nickel; Bars, Rods, Profiles and Wire in South Korea
- Exports of Nickel; Bars, Rods, Profiles and Wire in South Korea
Price for Nickel; Bars, Rods, Profiles and Wire in South Korea (CIF) - 2022
In December 2022, the average import price for nickel; bars, rods, profiles and wires amounted to $41,682 per ton, leveling off at the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +2.1%. The pace of growth appeared the most rapid in September 2022 when the average import price increased by 24% m-o-m. As a result, import price reached the peak level of $46,585 per ton. From October 2022 to December 2022, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($60,522 per ton), while the price for Sweden ($34,789 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 Sweden (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Nickel; Bars, Rods, Profiles and Wire in South Korea (FOB) - 2022
In December 2022, the average export price for nickel; bars, rods, profiles and wires amounted to $38,574 per ton, declining by -14.7% against the previous month. Over the period under review, the export price, however, enjoyed a perceptible increase. The pace of growth appeared the most rapid in March 2022 an increase of 169% against the previous month. As a result, the export price attained the peak level of $72,505 per ton. From April 2022 to December 2022, the the average export prices remained at a 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 Taiwan (Chinese) ($107K per ton), while the average price for exports to India ($6,500 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 Taiwan (Chinese) (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Nickel; Bars, Rods, Profiles and Wire in South Korea
In 2022, after two years of decline, there was significant growth in purchases abroad of nickel; bars, rods, profiles and wires, when their volume increased by 27% to 2.2K tons. Over the period under review, imports, however, showed a abrupt shrinkage.
In value terms, imports of nickel; bars, rods, profiles and wires surged to $83M in 2022. In general, imports, however, recorded a noticeable slump.
| Import of Nickel; Bars, Rods, Profiles and Wire in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.5 | 9.5 | 10.4 | 20.0 | 14.0% |
| France | 25.5 | 14.6 | 12.3 | 17.5 | -11.8% |
| Japan | 19.3 | 11.8 | 7.4 | 15.5 | -7.0% |
| United States | 11.1 | 7.7 | 8.6 | 10.3 | -2.5% |
| Germany | 12.6 | 8.6 | 5.9 | 9.5 | -9.0% |
| Austria | 2.5 | 0.9 | 2.3 | 3.1 | 7.4% |
| India | 2.0 | 0.9 | 2.0 | 2.4 | 6.3% |
| Sweden | 2.4 | 1.9 | 1.9 | 2.4 | 0.0% |
| Others | 4.2 | 1.5 | 3.7 | 2.8 | -12.6% |
| Total | 92.9 | 57.5 | 54.5 | 83.3 | -3.6% |
Top Suppliers of Nickel; Bars, Rods, Profiles and Wire to South Korea in 2022:
- France (548.7 tons)
- China (522.4 tons)
- Japan (370.0 tons)
- Germany (259.7 tons)
- United States (164.3 tons)
- Sweden (113.1 tons)
- Austria (85.8 tons)
- India (77.8 tons)
Exports of Nickel; Bars, Rods, Profiles and Wire in South Korea
In 2022, shipments abroad of nickel; bars, rods, profiles and wires decreased by -15% to 335 tons, falling for the second year in a row after two years of growth. Overall, exports saw a perceptible slump. The pace of growth was the most pronounced in 2020 when exports increased by 12%. As a result, the exports attained the peak of 429 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of nickel; bars, rods, profiles and wires surged to $13M in 2022. The total export value increased at an average annual rate of +10.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Nickel; Bars, Rods, Profiles and Wire in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3,180 | 5,774 | 2,106 | 4,099 | 8.8% |
| United States | 465 | 293 | 84.0 | 2,115 | 65.7% |
| China | 2,567 | 2,671 | 3,779 | 2,097 | -6.5% |
| Germany | 211 | 454 | 1,034 | 1,283 | 82.5% |
| United Arab Emirates | 50.1 | 156 | 156 | 561 | 123.7% |
| India | 632 | 350 | 478 | 426 | -12.3% |
| Taiwan (Chinese) | 211 | 115 | 182 | 364 | 19.9% |
| Oman | N/A | 8.9 | 0.7 | 135 | 289.5% |
| Sweden | 436 | 14.0 | 30.7 | 128 | -33.5% |
| Australia | 47.8 | 34.8 | 78.4 | 92.2 | 24.5% |
| Kuwait | 761 | 116 | 2.9 | 2.4 | -85.3% |
| Others | 807 | 508 | 1,533 | 1,292 | 17.0% |
| Total | 9,370 | 10,494 | 9,464 | 12,595 | 10.4% |
Top Export Markets for Nickel; Bars, Rods, Profiles and Wire from South Korea in 2022:
- China (84.8 tons)
- Japan (62.1 tons)
- Germany (50.7 tons)
- United States (47.7 tons)
- India (16.6 tons)
- Taiwan (Chinese) (12.9 tons)
- United Arab Emirates (11.1 tons)
- Oman (6.1 tons)
- Australia (5.9 tons)
- Sweden (3.1 tons)
- Kuwait (0.1 tons)
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