Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea - 2022

Contents:

1. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea (FOB) - 2022
2. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea (CIF) - 2022
3. Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea
4. Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea (FOB) - 2022

The average export price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s stood at $5,280 per ton in December 2022, picking up by 11% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in July 2022 when the average export price increased by 34% month-to-month. Over the period under review, the average export prices hit record highs at $7,729 per ton in August 2022; however, from September 2022 to December 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was Japan ($7,691 per ton), while the average price for exports to Malaysia ($3,433 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea (CIF) - 2022

In 2022, the average import price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s amounted to $6,452 per ton, rising by 124% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($10,011 per ton), while the price for China ($938 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.8%), while the prices for the other major suppliers experienced a decline.

Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea

In 2022, overseas shipments of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s decreased by -20.5% to 12K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +8.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 32%.

In value terms, exports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s reduced to $54M in 2022. The total export value increased at an average annual rate of +9.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 19%.

Top Export Markets for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 from South Korea in 2022:

1. Thailand (4.0K tons)
2. Poland (2.2K tons)
3. Italy (1.7K tons)
4. Mexico (1.1K tons)
5. United States (0.6K tons)
6. Czech Republic (0.3K tons)
7. Singapore (0.3K tons)
8. Australia (0.2K tons)
9. Vietnam (0.2K tons)
10. China (0.2K tons)

Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in South Korea

In 2022, imports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s into South Korea fell sharply to 1.4K tons, reducing by -74.7% compared with 2021. In general, imports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2021 with an increase of 102%. As a result, imports attained the peak of 5.4K tons, and then dropped rapidly in the following year.

In value terms, imports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s shrank significantly to $8.8M in 2022. Over the period under review, imports saw a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 20%.

Top Suppliers of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 to South Korea in 2022:

1. Japan (779.0 tons)
2. United States (272.1 tons)
3. China (216.8 tons)
4. Germany (69.1 tons)