Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea - 2022

Contents:

1. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea (CIF) - 2022
2. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea (FOB) - 2022
3. Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea
4. Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea (CIF) - 2022

In 2022, the average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $322 per ton, reducing by -78.6% against the previous year. In general, the import price saw a abrupt slump. The growth pace was the most rapid in 2015 an increase of 1,161%. As a result, import price attained the peak level of $10,991 per ton. From 2016 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to +130.6% per year.

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea (FOB) - 2022

In 2022, the average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $178 per ton, declining by -86.8% against the previous year. Over the period under review, the export price faced a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 649%. As a result, the export price reached the peak level of $9,636 per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -5.1% per year.

Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea

In 2022, supplies from abroad of residues; of petroleum oils or of oils obtained from bituminous mineralses was finally on the rise to reach 45 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses soared to $14K in 2022. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to South Korea in 2022:

1. Australia (44.6 tons)
2. United States (0.1 tons)

Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in South Korea

In 2022, approx. 1.2 tons of residues; of petroleum oils or of oils obtained from bituminous mineralses were exported from South Korea; increasing by 227% compared with the year before. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 220,273% against the previous year. As a result, the exports reached the peak of 24 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses dropped remarkably to $214 in 2022. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 31,258% against the previous year. As a result, the exports attained the peak of $33K. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from South Korea in 2022:

1. China (1202.0 kg)

Source: IndexBox Market Intelligence Platform