Price for Metals; Palladium, Unwrought or in Powder Form in South Korea - 2022

Price for Metals; Palladium, Unwrought or in Powder Form in South Korea (CIF) - 2022
Price for Metals; Palladium, Unwrought or in Powder Form in South Korea (FOB) - 2022
Imports of Metals; Palladium, Unwrought or in Powder Form in South Korea
Exports of Metals; Palladium, Unwrought or in Powder Form in South Korea

Price for Metals; Palladium, Unwrought or in Powder Form in South Korea (CIF) - 2022

The average import price for metals; palladium, unwrought or in powder forms stood at $61.2M per ton in December 2022, dropping by -7.9% against the previous month. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2022 an increase of 22% month-to-month. The import price peaked at $80.6M per ton in April 2022; afterwards, it flattened through to December 2022.

Average prices varied somewhat amongst the major supplying countries. In December 2022, the countries with the highest prices were Belgium ($63.3M per ton) and South Africa ($61.7M per ton), while the price for Germany ($49.5M per ton) and Norway ($61.2M per ton) were amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the UK (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Metals; Palladium, Unwrought or in Powder Form in South Korea (FOB) - 2022

The average export price for metals; palladium, unwrought or in powder forms stood at $62,910,304 per ton in 2022, waning by -16.8% against the previous year. Overall, the export price, however, continues to indicate a significant expansion. The growth pace was the most rapid in 2019 when the average export price increased by 73%. The export price peaked at $75,598,688 per ton in 2021, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($68,981,547 per ton), while the average price for exports to Japan ($20,496,002 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 the UK (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Metals; Palladium, Unwrought or in Powder Form in South Korea

In 2022, the amount of metals; palladium, unwrought or in powder forms imported into South Korea totaled 21 tons, with an increase of 7.5% compared with 2021 figures. The total import volume increased at an average annual rate of +7.0% 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 2021 when imports increased by 38% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of metals; palladium, unwrought or in powder forms contracted to $1.5B in 2022. Overall, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 51% against the previous year. As a result, imports attained the peak of $1.5B, and then dropped modestly in the following year.

Import of Metals; Palladium, Unwrought or in Powder Form in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	46.0	96.6	36.2	468	116.7%
South Africa	241	145	177	308	8.5%
United Kingdom	11.8	66.0	166	225	167.2%
Norway	83.0	145	214	186	30.9%
Belgium	27.4	178	250	106	57.0%
Russia	313	210	499	85.1	-35.2%
Germany	37.7	51.5	26.7	36.5	-1.1%
United States	52.6	48.5	99.3	15.2	-33.9%
Others	5.6	53.2	34.9	22.9	59.9%
Total	818	994	1,504	1,452	21.1%

Top Suppliers of Metals; Palladium, Unwrought or in Powder Form to South Korea in 2022:

Japan (6.9 tons)
South Africa (4.5 tons)
United Kingdom (3.0 tons)
Norway (2.6 tons)
Belgium (1.6 tons)
Russia (1.3 tons)
Germany (0.5 tons)
United States (0.2 tons)

Exports of Metals; Palladium, Unwrought or in Powder Form in South Korea

In 2022, after three years of growth, there was decline in shipments abroad of metals; palladium, unwrought or in powder forms, when their volume decreased by -1.2% to 7 tons. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 244%. As a result, the exports reached the peak of 7.1 tons, and then shrank modestly in the following year.

In value terms, exports of metals; palladium, unwrought or in powder forms reduced rapidly to $441M in 2022. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2021 when exports increased by 280% against the previous year. As a result, the exports reached the peak of $537M, and then declined notably in the following year.

Export of Metals; Palladium, Unwrought or in Powder Form in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	14.3	46.6	167	172	129.1%
United States	13.6	34.2	285	153	124.1%
Switzerland	12.2	3.2	9.3	42.4	51.5%
Hong Kong SAR	3.8	18.5	15.3	38.4	116.2%
Japan	4.5	7.7	9.5	13.7	44.9%
Germany	N/A	23.7	44.1	11.3	-30.9%
Italy	3.7	7.2	6.7	5.6	14.8%
Others	0.1	0.2	0.2	5.2	273.3%
Total	52.3	141	537	441	103.5%