Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea - 2022
Contents:
- Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea (FOB) - 2022
- Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea (CIF) - 2022
- Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea
- Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea
Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea (FOB) - 2022
The average export price for steel, alloy stood at $5,125 per ton in December 2022, rising by 2.7% against the previous month. In general, export price indicated resilient growth from December 2021 to December 2022: its price increased at an average monthly rate of +5.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, export price for steel, alloy increased by +35.9% against October 2022 indices. The most prominent rate of growth was recorded in November 2022 when the average export price increased by 32% month-to-month. Over the period under review, the average export prices reached the maximum in December 2022.
Average prices varied noticeably for the major external markets. In December 2022, the country with the highest price was Belgium ($5,400 per ton), while the average price for exports to the United States stood at $4,540 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea (CIF) - 2022
In December 2022, the average import price for steel, alloy amounted to $3,243 per ton, with a decrease of -9.8% against the previous month. Over the period under review, import price indicated a slight expansion from December 2021 to December 2022: its price increased at an average monthly rate of +1.3% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, import price for steel, alloy decreased by -14.7% against September 2022 indices. The most prominent rate of growth was recorded in September 2022 when the average import price increased by 33% month-to-month. As a result, import price reached the peak level of $3,803 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 China ($3,456 per ton), while the price for Brazil ($2,029 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 Japan (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea
In 2022, overseas shipments of steel, alloy decreased by -42.8% to 77K tons, falling for the second consecutive year after two years of growth. Overall, exports faced a significant contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 6.4% against the previous year. As a result, the exports attained the peak of 164K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of steel, alloy fell notably to $216M in 2022. Over the period under review, exports saw a deep slump. The pace of growth appeared the most rapid in 2021 when exports increased by 5.6%.
| Export of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 52.4 | 42.5 | 61.8 | 57.9 | 3.4% |
| Canada | 31.6 | 33.1 | 21.3 | 23.6 | -9.3% |
| Turkey | 15.5 | 10.6 | 17.9 | 20.5 | 9.8% |
| United States | 21.0 | 29.0 | 32.9 | 17.0 | -6.8% |
| Belgium | 2.7 | 8.4 | 7.5 | 12.2 | 65.3% |
| Italy | 20.3 | 7.1 | 7.0 | 12.1 | -15.8% |
| China | 19.7 | 7.3 | 23.0 | 11.5 | -16.4% |
| United Arab Emirates | 3.0 | 2.8 | 5.0 | 9.7 | 47.9% |
| Croatia | 6.1 | 5.6 | 7.5 | 9.0 | 13.8% |
| Slovenia | 1.6 | 1.8 | 5.3 | 6.6 | 60.4% |
| Saudi Arabia | 6.1 | 9.4 | 10.1 | 6.4 | 1.6% |
| Morocco | 6.5 | 2.9 | 0.3 | 3.2 | -21.0% |
| Argentina | 4.6 | 2.5 | 0.7 | 2.6 | -17.3% |
| Others | 79.4 | 85.8 | 62.5 | 23.8 | -33.1% |
| Total | 270 | 249 | 263 | 216 | -7.2% |
Top Export Markets for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented from South Korea in 2022:
- India (17.7K tons)
- Canada (13.6K tons)
- United States (5.3K tons)
- Turkey (4.9K tons)
- Belgium (4.8K tons)
- Italy (4.3K tons)
- China (3.9K tons)
- Croatia (2.3K tons)
- United Arab Emirates (2.2K tons)
- Morocco (2.1K tons)
- Slovenia (1.8K tons)
- Saudi Arabia (1.7K tons)
- Argentina (1.7K tons)
Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea
In 2022, supplies from abroad of steel, alloy decreased by -12.8% to 22K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +17.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. As a result, imports reached the peak of 25K tons, and then reduced in the following year.
In value terms, imports of steel, alloy reached $47M in 2022. In general, imports, however, posted a significant increase. The growth pace was the most rapid in 2021 when imports increased by 66%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 9.7 | 13.1 | 30.3 | 36.1 | 55.0% |
| Japan | 10.5 | 12.6 | 13.5 | 10.1 | -1.3% |
| India | 0.2 | 1.9 | 1.1 | 0.1 | -20.6% |
| Others | 1.0 | 0.1 | 0.9 | 0.7 | -11.2% |
| Total | 21.5 | 27.6 | 45.8 | 47.0 | 29.8% |
Top Suppliers of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented to South Korea in 2022:
- China (16.6K tons)
- Japan (4.9K tons)
- India (0.1K tons)
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