Price for Chain and Parts Thereof, of Iron or Steel in South Korea - 2022
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in South Korea (CIF) - 2022
- Price for Chain and Parts Thereof, of Iron or Steel in South Korea (FOB) - 2022
- Imports of Chain and Parts Thereof, of Iron or Steel in South Korea
- Exports of Chain and Parts Thereof, of Iron or Steel in South Korea
Price for Chain and Parts Thereof, of Iron or Steel in South Korea (CIF) - 2022
The average import price for chain and parts thereof, of iron or steel stood at $4,533 per ton in December 2022, approximately reflecting the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 an increase of 19% m-o-m. Over the period under review, average import prices attained the peak figure at $5,209 per ton in May 2022; however, from June 2022 to December 2022, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($28,199 per ton), while the price for China ($2,063 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 Vietnam (+2.7%), while the prices for the other major suppliers experienced a decline.
Price for Chain and Parts Thereof, of Iron or Steel in South Korea (FOB) - 2022
In 2022, the average export price for chain and parts thereof, of iron or steel amounted to $5,177 per ton, picking up by 7.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2021 an increase of 19% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($14,586 per ton), while the average price for exports to Brazil ($2,117 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 (+28.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Chain and Parts Thereof, of Iron or Steel in South Korea
Imports of chain and parts thereof, of iron or steel into South Korea expanded to 28K tons in 2022, growing by 4% compared with the year before. The total import volume increased at an average annual rate of +4.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 4.7% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of chain and parts thereof, of iron or steel reduced to $131M in 2022. The total import value increased at an average annual rate of +3.3% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 19%. As a result, imports attained the peak of $138M, and then fell in the following year.
| Import of Chain and Parts Thereof, of Iron or Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 32.3 | 36.7 | 46.7 | 51.9 | 17.1% |
| Germany | 30.5 | 36.8 | 40.9 | 34.9 | 4.6% |
| Japan | 20.6 | 21.4 | 24.0 | 21.6 | 1.6% |
| United States | 10.1 | 6.7 | 5.9 | 5.0 | -20.9% |
| Vietnam | N/A | N/A | 1.3 | 2.5 | 92.3% |
| Others | 24.8 | 14.2 | 18.9 | 14.8 | -15.8% |
| Total | 118 | 116 | 138 | 131 | 3.5% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to South Korea in 2022:
- China (21.6K tons)
- Japan (2.4K tons)
- Germany (1.0K tons)
- Vietnam (0.8K tons)
- United States (0.7K tons)
Exports of Chain and Parts Thereof, of Iron or Steel in South Korea
In 2022, overseas shipments of chain and parts thereof, of iron or steel were finally on the rise to reach 9.5K tons after two years of decline. Overall, exports, however, recorded a dramatic decline.
In value terms, exports of chain and parts thereof, of iron or steel surged to $48M in 2022. Over the period under review, exports, however, showed a sharp decrease.
| Export of Chain and Parts Thereof, of Iron or Steel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 19.6 | 7.6 | 8.1 | 8.8 | -23.4% |
| China | 30.6 | 10.9 | 6.4 | 8.3 | -35.3% |
| United States | 9.0 | 11.2 | 5.7 | 6.7 | -9.4% |
| Brazil | 0.7 | 0.1 | 0.1 | 5.3 | 96.4% |
| Mexico | 2.1 | 0.7 | 0.9 | 4.1 | 25.0% |
| Vietnam | 5.0 | 2.4 | 2.6 | 3.0 | -15.7% |
| Bahrain | 0.3 | 0.1 | 0.1 | 1.6 | 74.7% |
| Netherlands | 3.2 | 0.7 | 2.0 | 0.6 | -42.8% |
| Norway | 17.2 | N/A | N/A | N/A | 0% |
| Others | 24.5 | 6.5 | 9.5 | 9.6 | -26.8% |
| Total | 112 | 40.3 | 35.4 | 48.2 | -24.5% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from South Korea in 2022:
- Brazil (2527.6 tons)
- United States (1578.2 tons)
- Japan (1544.0 tons)
- Vietnam (1097.0 tons)
- China (949.4 tons)
- Mexico (326.9 tons)
- Netherlands (193.7 tons)
- Bahrain (163.2 tons)
- Norway (11.9 tons)
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