Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea - 2022
Contents:
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea (CIF) - 2022
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea (FOB) - 2022
- Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea
- Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea (CIF) - 2022
In December 2022, the average import price for stainless steel bars and rods, angles, shapes and sectionses amounted to $4,520 per ton, picking up by 2.1% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 when the average import price increased by 5.5% against the previous month. Over the period under review, average import prices hit record highs at $5,033 per ton in July 2022; however, from August 2022 to December 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($8,523 per ton), while the price for China ($2,982 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 Germany (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea (FOB) - 2022
In December 2022, the average export price for stainless steel bars and rods, angles, shapes and sectionses amounted to $4,512 per ton, shrinking by -18.5% against the previous month. In general, the export price showed a slight reduction. The most prominent rate of growth was recorded in March 2022 an increase of 33% month-to-month. The export price peaked at $6,740 per ton in October 2022; however, from November 2022 to December 2022, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Switzerland ($9,539 per ton), while the average price for exports to Taiwan (Chinese) ($3,606 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 Switzerland (+2.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea
In 2022, imports of stainless steel bars and rods, angles, shapes and sectionses into South Korea contracted slightly to 48K tons, reducing by -2.9% compared with the previous year. In general, imports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 when imports increased by 8.7%.
In value terms, imports of stainless steel bars and rods, angles, shapes and sectionses soared to $226M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +9.1% 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 +51.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 29% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 51.4 | 42.0 | 47.4 | 59.0 | 4.7% |
| Japan | 28.1 | 26.9 | 42.4 | 47.9 | 19.5% |
| China | 28.4 | 17.4 | 38.5 | 44.1 | 15.8% |
| Taiwan (Chinese) | 16.3 | 16.0 | 14.6 | 21.2 | 9.2% |
| Germany | 16.1 | 15.2 | 17.2 | 16.8 | 1.4% |
| Italy | 13.8 | 10.7 | 10.5 | 12.9 | -2.2% |
| Ukraine | 2.4 | 3.8 | 3.7 | 0.3 | -50.0% |
| Others | 17.5 | 16.8 | 18.3 | 23.9 | 10.9% |
| Total | 174 | 149 | 193 | 226 | 9.1% |
Top Suppliers of Stainless Steel Bars and Rods, Angles, Shapes and Sections to South Korea in 2022:
- India (15.8K tons)
- China (12.7K tons)
- Japan (7.8K tons)
- Taiwan (Chinese) (4.9K tons)
- Germany (2.3K tons)
- Italy (2.0K tons)
- Ukraine (0.1K tons)
Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea
In 2022, exports of stainless steel bars and rods, angles, shapes and sectionses from South Korea totaled 29K tons, remaining relatively unchanged against the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 21% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, exports of stainless steel bars and rods, angles, shapes and sectionses rose markedly to $158M in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +14.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 48.4 | 66.6 | 85.9 | 92.2 | 24.0% |
| Vietnam | 10.8 | 5.4 | 10.6 | 21.1 | 25.0% |
| Japan | 18.2 | 13.8 | 15.0 | 16.6 | -3.0% |
| Taiwan (Chinese) | 10.5 | 9.5 | 12.8 | 11.4 | 2.8% |
| Thailand | 6.3 | 3.9 | 4.5 | 7.7 | 6.9% |
| Singapore | 1.8 | 1.1 | 1.8 | 2.4 | 10.1% |
| Others | 9.0 | 5.3 | 7.3 | 6.6 | -9.8% |
| Total | 105 | 105 | 138 | 158 | 14.6% |
Top Export Markets for Stainless Steel Bars and Rods, Angles, Shapes and Sections from South Korea in 2022:
- China (12.4K tons)
- Vietnam (5.6K tons)
- Japan (4.4K tons)
- Taiwan (Chinese) (2.8K tons)
- Thailand (1.8K tons)
- Singapore (0.6K tons)
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