Price for Tungsten (Wolfram); Waste and Scrap in South Korea - 2022

Contents:

  1. Price for Tungsten (Wolfram); Waste and Scrap in South Korea (FOB) - 2022
  2. Price for Tungsten (Wolfram); Waste and Scrap in South Korea (CIF) - 2022
  3. Exports of Tungsten (Wolfram); Waste and Scrap in South Korea
  4. Imports of Tungsten (Wolfram); Waste and Scrap in South Korea

Price for Tungsten (Wolfram); Waste and Scrap in South Korea (FOB) - 2022

In 2022, the average export price for tungsten (wolfram); waste and scraps amounted to $10,620 per ton, with a decrease of -23.7% against the previous year. In general, the export price recorded a noticeable reduction. The pace of growth was the most pronounced in 2021 an increase of 69% against the previous year. The export price peaked at $16,457 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 the UK ($22,163 per ton), while the average price for exports to the Philippines ($1,935 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 the Philippines (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Tungsten (Wolfram); Waste and Scrap in South Korea (CIF) - 2022

In December 2022, the average import price for tungsten (wolfram); waste and scraps amounted to $8,505 per ton, rising by 18% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in January 2022 an increase of 62% m-o-m. The import price peaked at $23,614 per ton in August 2022; however, from September 2022 to December 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($15,136 per ton), while the price for Malaysia ($1,597 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 Taiwan (Chinese) (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Tungsten (Wolfram); Waste and Scrap in South Korea

Tungsten (wolfram); waste and scrap exports from South Korea surged to 462 tons in 2022, picking up by 20% against the previous year's figure. The total export volume increased at an average annual rate of +3.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 31%. As a result, the exports reached the peak of 538 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tungsten (wolfram); waste and scrap exports reduced to $4.9M in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 20%. As a result, the exports reached the peak of $5.4M, and then contracted in the following year.

Export of Tungsten (Wolfram); Waste and Scrap in South Korea (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Taiwan (Chinese)2,3552,7896262,4531.4%
Japan1,2937388881,247-1.2%
United Kingdom34235.28021,05845.7%
Philippines53.011111114640.2%
GermanyN/A6392,871N/A349.3%
VietnamN/A135N/AN/A0%
MalaysiaN/AN/A60.7N/A0%
Netherlands931N/AN/AN/A0%
Others2.5N/AN/AN/A0%
Total4,9774,4475,3594,903-0.5%

Top Export Markets for Tungsten (Wolfram); Waste and Scrap from South Korea in 2022:

  1. Taiwan (Chinese) (264.8 tons)
  2. Philippines (75.3 tons)
  3. Japan (73.8 tons)
  4. United Kingdom (47.7 tons)

Imports of Tungsten (Wolfram); Waste and Scrap in South Korea

For the fourth consecutive year, South Korea recorded growth in purchases abroad of tungsten (wolfram); waste and scraps, which increased by 2.6% to 353 tons in 2022. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 88%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, tungsten (wolfram); waste and scrap imports dropped to $3.4M in 2022. Overall, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.5% 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 +79.4% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 66% against the previous year.

Import of Tungsten (Wolfram); Waste and Scrap in South Korea (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Japan9041,5482,8052,54041.1%
Vietnam6.71,213438493319.0%
Taiwan (Chinese)1626.524622311.2%
United States25.510714.243.519.5%
Hong Kong SARN/A58.9N/AN/A0%
Thailand543N/AN/AN/A0%
Others24119612076.3-31.8%
Total1,8823,1293,6233,37621.5%

Top Suppliers of Tungsten (Wolfram); Waste and Scrap to South Korea in 2022:

  1. Japan (260.5 tons)
  2. Taiwan (Chinese) (37.0 tons)
  3. Vietnam (28.1 tons)
  4. United States (23.1 tons)

Source: IndexBox Market Intelligence Platform

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