Price for Styrene Polymers; Waste, Parings and Scrap in South Korea - 2022

Contents:

1. Price for Styrene Polymers; Waste, Parings and Scrap in South Korea (CIF) - 2022
2. Price for Styrene Polymers; Waste, Parings and Scrap in South Korea (FOB) - 2022
3. Imports of Styrene Polymers; Waste, Parings and Scrap in South Korea
4. Exports of Styrene Polymers; Waste, Parings and Scrap in South Korea

Price for Styrene Polymers; Waste, Parings and Scrap in South Korea (CIF) - 2022

In 2022, the average import price for styrene polymers; waste, parings and scraps amounted to $520 per ton, picking up by 42% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $650 per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat 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 Vietnam amounted to +7.8% per year.

Price for Styrene Polymers; Waste, Parings and Scrap in South Korea (FOB) - 2022

In 2022, the average export price for styrene polymers; waste, parings and scraps amounted to $878 per ton, with an increase of 36% against the previous year. In general, the export price posted noticeable growth. The pace of growth appeared the most rapid in 2020 an increase of 140% against the previous year. As a result, the export price reached the peak level of $1,498 per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($2,655 per ton), while the average price for exports to Hong Kong SAR ($378 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 Nigeria (+26.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Styrene Polymers; Waste, Parings and Scrap in South Korea

In 2022, purchases abroad of styrene polymers; waste, parings and scraps decreased by -43.8% to 2.5K tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 64%. As a result, imports attained the peak of 4.9K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of styrene polymers; waste, parings and scraps contracted sharply to $1.3M in 2022. In general, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2020 when imports increased by 61%. As a result, imports reached the peak of $2.5M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Styrene Polymers; Waste, Parings and Scrap to South Korea in 2022:

1. Australia (2.5K tons)

Exports of Styrene Polymers; Waste, Parings and Scrap in South Korea

In 2022, exports of styrene polymers; waste, parings and scraps from South Korea soared to 960 tons, increasing by 67% on the year before. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 209% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of styrene polymers; waste, parings and scraps surged to $843K in 2022. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Styrene Polymers; Waste, Parings and Scrap from South Korea in 2022:

1. Vietnam (753.8 tons)
2. Malaysia (90.6 tons)
3. Hong Kong SAR (48.8 tons)
4. Taiwan (Chinese) (41.2 tons)
5. Nigeria (25.5 tons)

Source: IndexBox Market Intelligence Platform