Price for Aluminium Waste and Scrap in South Korea - 2022
Contents:
- Price for Aluminium Waste and Scrap in South Korea (CIF) - 2022
- Price for Aluminium Waste and Scrap in South Korea (FOB) - 2022
- Imports of Aluminium Waste and Scrap in South Korea
- Exports of Aluminium Waste and Scrap in South Korea
Price for Aluminium Waste and Scrap in South Korea (CIF) - 2022
The average aluminium waste and scrap import price stood at $1,656 per ton in December 2022, remaining relatively unchanged against the previous month. Over the period under review, the import price saw a mild slump. The pace of growth was the most pronounced in April 2022 an increase of 6.9% m-o-m. Over the period under review, average import prices attained the peak figure at $2,276 per ton in May 2022; however, from June 2022 to December 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the countries with the highest prices were Vietnam ($2,013 per ton) and Malaysia ($1,858 per ton), while the price for the United States ($1,579 per ton) and Taiwan (Chinese) ($1,599 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 (-1.3%), while the prices for the other major suppliers experienced a decline.
Price for Aluminium Waste and Scrap in South Korea (FOB) - 2022
The average aluminium waste and scrap export price stood at $1,337 per ton in December 2022, dropping by -2.9% against the previous month. Overall, the export price showed a slight reduction. The growth pace was the most rapid in February 2022 when the average export price increased by 15% against the previous month. Over the period under review, the average export prices attained the peak figure at $2,205 per ton in May 2022; however, from June 2022 to December 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Vietnam ($2,069 per ton), while the average price for exports to Hong Kong SAR ($857 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 Malaysia (+1.8%), while the prices for the other major destinations experienced a decline.
Imports of Aluminium Waste and Scrap in South Korea
In 2022, after three years of growth, there was decline in purchases abroad of aluminium waste and scraps, when their volume decreased by -3.6% to 1M tons. The total import volume increased at an average annual rate of +4.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 8.9% against the previous year.
In value terms, aluminium waste and scrap imports shrank remarkably to $1.4B in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.8% 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 +32.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 63% against the previous year. As a result, imports reached the peak of $1.8B, and then fell rapidly in the following year.
| Import of Aluminium Waste and Scrap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 309 | 306 | 424 | 341 | 3.3% |
| Japan | 139 | 139 | 165 | 133 | -1.5% |
| Thailand | 124 | 112 | 146 | 118 | -1.6% |
| Mexico | 32.7 | 41.6 | 102 | 82.2 | 36.0% |
| Australia | 28.5 | 42.5 | 93.9 | 75.5 | 38.4% |
| Taiwan (Chinese) | 39.7 | 42.4 | 92.0 | 74.0 | 23.1% |
| United Arab Emirates | 32.7 | 44.8 | 85.8 | 69.1 | 28.3% |
| Saudi Arabia | 31.4 | 36.8 | 68.1 | 54.8 | 20.4% |
| Canada | 13.6 | 26.7 | 64.6 | 51.9 | 56.3% |
| Vietnam | 64.4 | 46.8 | 44.8 | 40.7 | -14.2% |
| Philippines | 32.3 | 22.7 | 50.2 | 40.4 | 7.7% |
| United Kingdom | 32.1 | 31.3 | 48.3 | 38.9 | 6.6% |
| Israel | 10.8 | 17.8 | 35.3 | 28.4 | 38.0% |
| Others | 201 | 189 | 369 | 297 | 13.9% |
| Total | 1,091 | 1,099 | 1,789 | 1,444 | 9.8% |
Top Suppliers of Aluminium Waste and Scrap to South Korea in 2022:
- United States (251.4K tons)
- Japan (99.3K tons)
- Thailand (80.5K tons)
- Australia (54.0K tons)
- Mexico (52.6K tons)
- Taiwan (Chinese) (50.3K tons)
- Canada (37.6K tons)
- Saudi Arabia (36.1K tons)
- Vietnam (30.2K tons)
- United Arab Emirates (28.5K tons)
- United Kingdom (27.7K tons)
- Philippines (26.6K tons)
- Israel (20.8K tons)
Exports of Aluminium Waste and Scrap in South Korea
In 2022, after three years of growth, there was significant decline in overseas shipments of aluminium waste and scraps, when their volume decreased by -7.1% to 31K tons. The total export volume increased at an average annual rate of +4.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. As a result, the exports reached the peak of 34K tons, and then declined in the following year.
In value terms, aluminium waste and scrap exports shrank dramatically to $41M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +6.9% 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 +24.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 50% against the previous year. As a result, the exports attained the peak of $50M, and then shrank sharply in the following year.
| Export of Aluminium Waste and Scrap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 2.3 | 1.9 | 10.2 | 7.1 | 45.6% |
| Saudi Arabia | 12.3 | 15.2 | 3.6 | 6.9 | -17.5% |
| Japan | 0.3 | 1.4 | 7.6 | 5.3 | 160.4% |
| China | 7.2 | 3.3 | 6.2 | 4.3 | -15.8% |
| Hong Kong SAR | 0.1 | 1.0 | 6.0 | 4.2 | 247.6% |
| Thailand | 0.1 | 0.9 | 3.4 | 2.4 | 188.4% |
| Canada | 1.2 | 1.6 | 3.3 | 2.3 | 24.2% |
| Indonesia | N/A | 1.1 | 2.7 | 1.9 | 31.4% |
| United States | 4.5 | 3.5 | 0.2 | 1.8 | -26.3% |
| Malaysia | 0.5 | 1.4 | 1.9 | 1.3 | 37.5% |
| Taiwan (Chinese) | N/A | 0.2 | 1.8 | 1.2 | 144.9% |
| France | 2.7 | 1.1 | 0.6 | 1.0 | -28.2% |
| Belgium | 1.0 | N/A | 0.8 | 0.6 | -15.7% |
| Others | 1.7 | 0.6 | 1.3 | 0.9 | -19.1% |
| Total | 33.9 | 33.1 | 49.6 | 41.4 | 6.9% |
Top Export Markets for Aluminium Waste and Scrap from South Korea in 2022:
- Saudi Arabia (5.9K tons)
- China (4.2K tons)
- Vietnam (4.0K tons)
- Japan (3.7K tons)
- Malaysia (3.3K tons)
- Hong Kong SAR (2.1K tons)
- Thailand (1.7K tons)
- Indonesia (1.3K tons)
- United States (1.2K tons)
- Canada (1.0K tons)
- Taiwan (Chinese) (0.8K tons)
- France (0.5K tons)
- Belgium (0.5K tons)
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