Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea - 2022

Contents:

1. Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea (CIF) - 2022
2. Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea (FOB) - 2022
3. Imports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea
4. Exports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea

Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea (CIF) - 2022

In December 2022, the average import price for rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses amounted to $2,445 per ton, dropping by -8.3% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in November 2022 an increase of 12% m-o-m. Over the period under review, average import prices hit record highs at $2,812 per ton in May 2022; however, from June 2022 to December 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Vietnam ($2,712 per ton), while the price for China totaled $2,323 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+0.3%).

Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea (FOB) - 2022

In 2022, the average export price for rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses amounted to $4,795 per ton, falling by -25.9% against the previous year. Over the period under review, the export price continues to indicate a perceptible descent. The growth pace was the most rapid in 2018 when the average export price increased by 42% against the previous year. As a result, the export price reached the peak level of $8,276 per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($23,464 per ton), while the average price for exports to Russia ($2,187 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 Indonesia (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea

Imports of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses into South Korea surged to 15K tons in 2022, picking up by 15% against 2021. In general, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +11.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 38% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses stood at $39M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +12.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Top Suppliers of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials to South Korea in 2022:

1. China (7.9K tons)
2. Vietnam (6.7K tons)

Exports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in South Korea

In 2022, approx. 1.8K tons of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses were exported from South Korea; increasing by 130% compared with the year before. In general, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses surged to $8.4M in 2022. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials from South Korea in 2022:

1. United States (1270.3 tons)
2. Japan (123.4 tons)
3. India (112.2 tons)
4. Australia (82.7 tons)
5. China (37.7 tons)
6. Philippines (37.5 tons)
7. Vietnam (37.2 tons)
8. Indonesia (23.0 tons)

Source: IndexBox Market Intelligence Platform