Salts; Tungstates (Wolframates) Price in South Korea - 2022
Contents:
- Salts; Tungstates (Wolframates) Price in South Korea (CIF) - 2022
- Salts; Tungstates (Wolframates) Price in South Korea (FOB) - 2022
- Salts; Tungstates (Wolframates) Imports in South Korea
- Salts; Tungstates (Wolframates) Exports in South Korea
Salts; Tungstates (Wolframates) Price in South Korea (CIF) - 2022
The average salts; tungstates (wolframates) import price stood at $24,647 per ton in December 2022, falling by -85.3% against the previous month. In general, the import price continues to indicate a perceptible setback. The pace of growth was the most pronounced in October 2022 an increase of 289% m-o-m. As a result, import price attained the peak level of $176K per ton. From November 2022 to December 2022, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was China ($33,613 per ton), while the price for Japan amounted to $20,158 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (-0.1%).
Salts; Tungstates (Wolframates) Price in South Korea (FOB) - 2022
The average salts; tungstates (wolframates) export price stood at $50,618 per ton in 2022, remaining constant against the previous year. Over the period under review, the export price, however, posted a strong increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 77%. Over the period under review, the average export prices attained the peak figure at $53,972 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($190,323 per ton), while the average price for exports to Hong Kong SAR ($22,037 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 Hong Kong SAR (+29.8%), while the prices for the other major destinations experienced more modest paces of growth.
Salts; Tungstates (Wolframates) Imports in South Korea
In 2022, supplies from abroad of salts; tungstates (wolframates) decreased by -1.3% to 42 tons, falling for the second year in a row after two years of growth. In general, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.5% 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 decreased by -2.7% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 80%. As a result, imports attained the peak of 44 tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, salts; tungstates (wolframates) imports reduced to $1.4M in 2022. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 65% against the previous year.
| Import of Salts; Tungstates (Wolframates) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 547 | 756 | 643 | 744 | 10.8% |
| Japan | 100 | 286 | 571 | 221 | 30.3% |
| Taiwan (Chinese) | 1.5 | N/A | 107 | 133 | 345.9% |
| Vietnam | 21.9 | 40.7 | 54.8 | 68.1 | 46.0% |
| Others | 47.1 | 99.5 | 215 | 219 | 66.9% |
| Total | 718 | 1,182 | 1,591 | 1,386 | 24.5% |
Top Suppliers of Salts; Tungstates (Wolframates) to South Korea in 2022:
- China (31.2 tons)
- Japan (6.2 tons)
- Vietnam (3.6 tons)
- Taiwan (Chinese) (0.7 tons)
Salts; Tungstates (Wolframates) Exports in South Korea
In 2022, shipments abroad of salts; tungstates (wolframates) decreased by -19.2% to 447 kg for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 248% against the previous year.
In value terms, salts; tungstates (wolframates) exports declined remarkably to $23K in 2022. Overall, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of 209%.
| Export of Salts; Tungstates (Wolframates) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 2.1 | 7.8 | 9.9 | 11.5 | 76.3% |
| China | 2.2 | 6.5 | 7.7 | 8.8 | 58.7% |
| Vietnam | 0.9 | 1.6 | 0.3 | 1.3 | 13.0% |
| Singapore | 0.2 | 0.4 | 0.2 | 0.3 | 14.5% |
| Hong Kong SAR | N/A | 0.1 | 0.1 | 0.2 | 41.4% |
| Japan | N/A | N/A | 9.6 | N/A | 0% |
| Others | 0.1 | 0.4 | 0.5 | 0.6 | 81.7% |
| Total | 5.5 | 16.9 | 28.3 | 22.6 | 60.2% |
Top Export Markets for Salts; Tungstates (Wolframates) from South Korea in 2022:
- China (329.0 kg)
- Taiwan (Chinese) (60.0 kg)
- Vietnam (35.0 kg)
- Hong Kong SAR (8.0 kg)
- Singapore (5.0 kg)
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