Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea - 2022
Contents:
- Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (CIF) - 2022
- Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (FOB) - 2022
- Imports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
- Exports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (CIF) - 2022
In December 2022, the average import price for steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses amounted to $736 per ton, which is down by -3.4% against the previous month. Over the period under review, the import price saw a mild slump. The pace of growth was the most pronounced in May 2022 an increase of 14% m-o-m. As a result, import price reached the peak level of $969 per ton. From June 2022 to December 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($1,059 per ton), while the price for China ($644 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 Malaysia (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (FOB) - 2022
In December 2022, the average export price for steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses amounted to $1,038 per ton, increasing by 3.4% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 when the average export price increased by 3.6% month-to-month. Over the period under review, the average export prices attained the maximum at $1,082 per ton in December 2021; however, from January 2022 to December 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Vietnam ($2,223 per ton), while the average price for exports to Taiwan (Chinese) ($909 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 Vietnam (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
In 2022, approx. 455K tons of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses were imported into South Korea; which is down by -10.2% against the previous year. Over the period under review, imports showed a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by 26%.
In value terms, imports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses dropped sharply to $316M in 2022. Overall, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 78% against the previous year. As a result, imports attained the peak of $404M, and then contracted sharply in the following year.
| Import of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 258 | 176 | 293 | 202 | -7.8% |
| Japan | 64.8 | 33.9 | 44.8 | 56.9 | -4.2% |
| Vietnam | N/A | N/A | 10.6 | 20.6 | 94.3% |
| Malaysia | 0.1 | 1.9 | 19.2 | 16.0 | 442.9% |
| Taiwan (Chinese) | 4.3 | 2.5 | 6.7 | 7.7 | 21.4% |
| Indonesia | N/A | N/A | 14.5 | 5.9 | -59.3% |
| Others | 14.9 | 12.8 | 14.9 | 6.3 | -24.9% |
| Total | 342 | 227 | 404 | 316 | -2.6% |
Top Suppliers of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to South Korea in 2022:
- China (308.9K tons)
- Japan (65.6K tons)
- Vietnam (29.6K tons)
- Malaysia (25.9K tons)
- Indonesia (9.6K tons)
- Taiwan (Chinese) (9.5K tons)
Exports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea
In 2022, exports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses from South Korea reached 285K tons, flattening at the year before. The total export volume increased at an average annual rate of +10.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 38% against the previous year. As a result, the exports reached the peak of 288K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses contracted remarkably to $217M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +37.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. As a result, the exports attained the peak of $257M, and then declined notably in the following year.
| Export of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 27.0 | 42.8 | 76.6 | 51.1 | 23.7% |
| China | 54.7 | 68.3 | 62.6 | 48.7 | -3.8% |
| Turkey | 6.1 | 8.5 | 23.4 | 31.5 | 72.8% |
| Malaysia | 14.3 | 10.4 | 22.1 | 17.8 | 7.6% |
| Mexico | 9.9 | 5.1 | 12.0 | 13.6 | 11.2% |
| Vietnam | 5.2 | 13.6 | 20.8 | 13.2 | 36.4% |
| United States | 4.8 | 0.7 | 6.3 | 13.1 | 39.7% |
| Japan | 15.4 | 10.2 | 17.0 | 11.2 | -10.1% |
| Thailand | 11.3 | 10.6 | 8.7 | 7.9 | -11.2% |
| Others | 8.9 | 7.5 | 7.3 | 9.0 | 0.4% |
| Total | 158 | 178 | 257 | 217 | 11.2% |
Top Export Markets for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from South Korea in 2022:
- Taiwan (Chinese) (69.9K tons)
- China (59.1K tons)
- Turkey (40.1K tons)
- Malaysia (23.9K tons)
- Mexico (19.0K tons)
- Japan (17.7K tons)
- United States (17.3K tons)
- Vietnam (16.4K tons)
- Thailand (10.9K tons)
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