Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea - 2022
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea (FOB) - 2022
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea (CIF) - 2022
- Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea (FOB) - 2022
In December 2022, the average export price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses amounted to $1,709 per ton, with an increase of 4.8% against the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The export price peaked at $1,907 per ton in January 2022; however, from February 2022 to December 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was China ($2,757 per ton), while the average price for exports to Chile ($1,217 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 Canada (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses amounted to $1,482 per ton, surging by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 31%. Over the period under review, average import prices hit record highs at $1,819 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
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 the Czech Republic ($3,001 per ton), while the price for Malaysia ($836 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea
In 2022, the amount of iron or non-alloy steel wire, plated or coated with non-zinc base metalses exported from South Korea contracted to 90K tons, which is down by -14% on the previous year. Over the period under review, exports showed a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of 15% against the previous year. As a result, the exports reached the peak of 105K tons, and then declined in the following year.
In value terms, exports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses fell to $163M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +8.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 46%. As a result, the exports reached the peak of $165M, leveling off in the following year.
| Export of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 46.0 | 30.9 | 40.3 | 46.4 | 0.3% |
| Turkey | 10.9 | 10.3 | 16.6 | 19.3 | 21.0% |
| United States | 14.1 | 11.0 | 13.6 | 16.9 | 6.2% |
| Thailand | 1.7 | 8.6 | 14.1 | 11.0 | 86.3% |
| Taiwan (Chinese) | 9.3 | 8.1 | 8.7 | 9.0 | -1.1% |
| Canada | 3.7 | 3.8 | 8.2 | 7.5 | 26.6% |
| Vietnam | 7.3 | 8.1 | 16.4 | 7.4 | 0.5% |
| Mexico | 4.5 | 4.6 | 7.0 | 6.3 | 11.9% |
| Spain | 3.0 | 2.4 | 3.5 | 5.2 | 20.1% |
| Chile | N/A | 1.3 | 4.3 | 4.7 | 90.1% |
| Argentina | 3.0 | 1.8 | 3.4 | 3.5 | 5.3% |
| Brazil | 3.2 | 3.3 | 3.0 | 3.3 | 1.0% |
| Costa Rica | 1.5 | 1.0 | 1.3 | 2.1 | 11.9% |
| Others | 19.6 | 17.7 | 24.2 | 20.5 | 1.5% |
| Total | 128 | 113 | 165 | 163 | 8.4% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals from South Korea in 2022:
- Japan (31.9K tons)
- Turkey (11.1K tons)
- United States (6.7K tons)
- Thailand (6.1K tons)
- Vietnam (4.9K tons)
- Taiwan (Chinese) (4.7K tons)
- Mexico (4.4K tons)
- Canada (3.6K tons)
- Chile (3.1K tons)
- Spain (2.9K tons)
- Argentina (2.1K tons)
- Brazil (1.6K tons)
- Costa Rica (1.6K tons)
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea
In 2022, approx. 37K tons of iron or non-alloy steel wire, plated or coated with non-zinc base metalses were imported into South Korea; surging by 11% against 2021. Over the period under review, imports, however, continue to indicate a abrupt descent.
In value terms, imports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses soared to $56M in 2022. Overall, total imports indicated a notable expansion from 2019 to 2022: its value increased at an average annual rate of +4.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 18.4 | 14.3 | 24.4 | 29.7 | 17.3% |
| Vietnam | 25.6 | 13.5 | 16.3 | 19.7 | -8.4% |
| Czech Republic | 0.5 | 0.7 | 0.9 | 2.5 | 71.0% |
| Germany | 1.0 | 1.8 | 0.9 | 1.3 | 9.1% |
| Malaysia | 0.7 | 0.7 | 0.4 | 0.8 | 4.6% |
| Others | 2.3 | 1.9 | 1.8 | 1.6 | -11.4% |
| Total | 48.4 | 32.9 | 44.8 | 55.5 | 4.7% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals to South Korea in 2022:
- China (20.6K tons)
- Vietnam (13.6K tons)
- Malaysia (0.9K tons)
- Czech Republic (0.8K tons)
- Germany (0.5K tons)
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