Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea - 2022
Contents:
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea (CIF) - 2022
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea (FOB) - 2022
- Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea
- Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea (CIF) - 2022
The average import price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) stood at $236 per ton in 2022, picking up by 2.2% against the previous year. Over the period under review, the import price recorded a temperate expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 62%. The import price peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($861 per ton), while the price for Australia ($197 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea (FOB) - 2022
In 2022, the average export price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) amounted to $27 per ton, falling by -22.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 1,055%. Over the period under review, the average export prices attained the maximum at $1,326 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.8% per year.
Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea
In 2022, approx. 5M tons of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) were imported into South Korea; rising by 29% compared with 2021 figures. Overall, imports recorded a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 151%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.
In value terms, imports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) soared to $1.2B in 2022. In general, imports posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 306%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the near future.
Import of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Brazil | 128 | 42.5 | 224 | 579 | 65.4% |
Chile | 27.5 | 6.1 | 78.8 | 306 | 123.3% |
Australia | 20.7 | 31.5 | 119 | 122 | 80.6% |
Bahrain | 0.1 | N/A | 56.1 | 119 | 959.7% |
Canada | 8.4 | 5.0 | 12.5 | 22.6 | 39.1% |
Russia | N/A | N/A | 0.2 | 16.7 | 8250.0% |
India | 40.9 | 4.5 | 105 | 14.7 | -28.9% |
Ukraine | 55.6 | 3.0 | 8.2 | N/A | -61.6% |
South Africa | 182 | 127 | 290 | N/A | 26.2% |
Others | 5.4 | 2.9 | 6.6 | 12.1 | 30.9% |
Total | 469 | 222 | 901 | 1,191 | 36.4% |
Top Suppliers of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) to South Korea in 2022:
- Brazil (2654.2K tons)
- Chile (1329.3K tons)
- Australia (615.4K tons)
- Bahrain (137.6K tons)
- Canada (84.2K tons)
- Russia (77.9K tons)
- India (69.0K tons)
Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea
For the third consecutive year, South Korea recorded decline in overseas shipments of iron ores and concentrates, agglomerated (excluding roasted iron pyrites), which decreased by -99.6% to 264 kg in 2022. Over the period under review, exports recorded a sharp decrease. The smallest decline of -39.9% was in 2021.
In value terms, exports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) declined significantly to $7 in 2022. In general, exports saw a sharp curtailment. The smallest decline of -5.3% was in 2021.
Export of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 3.5 | 1.7 | 1.6 | N/A | -32.4% |
Others | 1.0 | 0.5 | 0.6 | N/A | -22.5% |
Total | 4.5 | 2.3 | 2.1 | N/A | -31.7% |
Top Export Markets for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) from South Korea in 2022:
- China (264.0 kg)
This report provides an in-depth analysis of the iron ore market in Republic of Korea.
This report provides an in-depth analysis of the iron ore market in Republic of Korea.
This report provides an in-depth analysis of the roasted iron pyrites market in Republic of Korea.
This report provides an in-depth analysis of the global iron ore market.
This report provides an in-depth analysis of the global iron ore market.
This report provides an in-depth analysis of the global roasted iron pyrites market.
This report provides an in-depth analysis of the iron ore market in Republic of Korea.
This report provides an in-depth analysis of the iron ore market in Republic of Korea.
This report provides an in-depth analysis of the roasted iron pyrites market in Republic of Korea.
This report provides an in-depth analysis of the global iron ore market.
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Explore the top import markets for iron ore, including China, Japan, South Korea, and more. Learn about the key statistics and import values of these countries. Discover valuable insights using the IndexBox market intelligence platform.
Iron ore prices are forecast to drop by 20% y/y to $130 per ton in 2022 due to rising global production.