Tungsten (Wolfram); Wire Price in South Korea - 2022

Contents:

1. Tungsten (Wolfram); Wire Price in South Korea (CIF) - 2022
2. Tungsten (Wolfram); Wire Price in South Korea (FOB) - 2022
3. Tungsten (Wolfram); Wire Imports in South Korea
4. Tungsten (Wolfram); Wire Exports in South Korea

Tungsten (Wolfram); Wire Price in South Korea (CIF) - 2022

The average tungsten (wolfram); wire import price stood at $89,694 per ton in December 2022, surging by 7.8% against the previous month. Over the period under review, the import price, however, continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 70% against the previous month. As a result, import price attained the peak level of $161K per ton. From March 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 Japan ($219K per ton), while the price for China amounted to $84,863 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (-2.0%).

Tungsten (Wolfram); Wire Price in South Korea (FOB) - 2022

The average tungsten (wolfram); wire export price stood at $459,725 per ton in 2022, picking up by 156% against the previous year. Over the period under review, the export price saw a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($996,942 per ton), while the average price for exports to Spain ($104,544 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 Romania (+27.8%), while the prices for the other major destinations experienced more modest paces of growth.

Tungsten (Wolfram); Wire Imports in South Korea

In 2022, approx. 103 tons of tungsten (wolfram); wires were imported into South Korea; waning by -12.8% compared with the year before. The total import volume increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 29%. As a result, imports attained the peak of 118 tons, and then declined in the following year.

In value terms, tungsten (wolfram); wire imports reduced to $9.6M in 2022. The total import value increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. As a result, imports reached the peak of $11M, and then contracted in the following year.

Top Suppliers of Tungsten (Wolfram); Wire to South Korea in 2022:

1. China (98.6 tons)
2. Japan (1.1 tons)

Tungsten (Wolfram); Wire Exports in South Korea

In 2022, approx. 11 tons of tungsten (wolfram); wires were exported from South Korea; declining by -58.6% compared with 2021 figures. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 96% against the previous year. As a result, the exports attained the peak of 26 tons, and then dropped markedly in the following year.

In value terms, tungsten (wolfram); wire exports expanded sharply to $4.9M in 2022. Overall, exports showed a perceptible reduction.

Top Export Markets for Tungsten (Wolfram); Wire from South Korea in 2022:

1. Malaysia (3.3 tons)
2. China (2.5 tons)
3. Spain (2.0 tons)
4. Cambodia (0.9 tons)
5. Romania (0.6 tons)
6. Vietnam (0.4 tons)
7. Thailand (0.2 tons)

Source: IndexBox Market Intelligence Platform