Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea - 2022
Contents:
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea (FOB) - 2022
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea (CIF) - 2022
- Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea
- Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea (FOB) - 2022
The average export price for iron or non-alloy steel wire, not plated or coateds stood at $1,884 per ton in December 2022, rising by 4.5% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in January 2022 an increase of 6% month-to-month. The export price peaked at $2,021 per ton in April 2022; however, from May 2022 to December 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was Canada ($3,242 per ton), while the average price for exports to Saudi Arabia ($870 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 Brazil (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea (CIF) - 2022
The average import price for iron or non-alloy steel wire, not plated or coateds stood at $853 per ton in December 2022, declining by -7.1% against the previous month. In general, the import price recorded a mild shrinkage. The most prominent rate of growth was recorded in March 2022 an increase of 18% month-to-month. Over the period under review, average import prices reached the maximum at $1,209 per ton in January 2022; however, from February 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($9,524 per ton), while the price for Indonesia ($585 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 Malaysia (+23.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea
Exports of iron or non-alloy steel wire, not plated or coateds from South Korea dropped markedly to 74K tons in 2022, with a decrease of -23.3% compared with 2021. In general, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 4%.
In value terms, exports of iron or non-alloy steel wire, not plated or coateds shrank to $141M in 2022. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 22%.
| Export of Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 23.4 | 24.2 | 31.1 | 27.1 | 5.0% |
| United States | 17.6 | 13.6 | 18.3 | 21.8 | 7.4% |
| Japan | 21.7 | 18.6 | 21.3 | 18.6 | -5.0% |
| Canada | 9.7 | 7.7 | 9.5 | 11.2 | 4.9% |
| Vietnam | 17.7 | 12.6 | 15.7 | 10.7 | -15.4% |
| France | 11.8 | 6.5 | 5.2 | 6.7 | -17.2% |
| Brazil | 5.9 | 6.1 | 3.9 | 6.3 | 2.2% |
| Indonesia | 10.4 | 5.2 | 6.1 | 6.3 | -15.4% |
| Thailand | 5.5 | 3.9 | 5.8 | 4.5 | -6.5% |
| Italy | 3.1 | 3.1 | 5.9 | 3.8 | 7.0% |
| Taiwan (Chinese) | 2.9 | 3.0 | 4.4 | 3.8 | 9.4% |
| India | 6.1 | 3.7 | 6.0 | 3.8 | -14.6% |
| Saudi Arabia | 1.0 | 3.8 | 0.6 | 2.5 | 35.7% |
| Others | 19.8 | 14.6 | 20.2 | 13.6 | -11.8% |
| Total | 157 | 127 | 154 | 141 | -3.5% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Not Plated or Coated from South Korea in 2022:
- Japan (12.7K tons)
- China (11.3K tons)
- United States (10.1K tons)
- Vietnam (7.0K tons)
- Canada (4.3K tons)
- Indonesia (4.2K tons)
- France (3.1K tons)
- Brazil (2.9K tons)
- Saudi Arabia (2.4K tons)
- Thailand (2.4K tons)
- Italy (2.2K tons)
- Taiwan (Chinese) (2.1K tons)
- India (2.1K tons)
Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea
After three years of growth, purchases abroad of iron or non-alloy steel wire, not plated or coateds decreased by -16.1% to 29K tons in 2022. In general, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 101%. As a result, imports reached the peak of 34K tons, and then reduced remarkably in the following year.
In value terms, imports of iron or non-alloy steel wire, not plated or coateds shrank to $28M in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +12.9% 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 +52.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 75% against the previous year. As a result, imports attained the peak of $32M, and then contracted in the following year.
| Import of Iron or Non-Alloy Steel Wire, Not Plated or Coated in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 10.9 | 11.9 | 26.0 | 19.5 | 21.4% |
| Malaysia | 0.2 | N/A | 2.7 | 5.9 | 209.0% |
| Japan | 7.5 | 5.8 | 2.0 | 1.3 | -44.2% |
| Indonesia | N/A | N/A | N/A | 0.6 | 0% |
| Others | 0.8 | 0.5 | 1.4 | 0.6 | -9.1% |
| Total | 19.4 | 18.3 | 32.1 | 27.9 | 12.9% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Not Plated or Coated to South Korea in 2022:
- China (20.4K tons)
- Malaysia (6.5K tons)
- Indonesia (0.8K tons)
- Japan (0.7K tons)
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