Nickel; Unwrought, Alloys Price in South Korea - 2022
Contents:
- Nickel; Unwrought, Alloys Price in South Korea (CIF) - 2022
- Nickel; Unwrought, Alloys Price in South Korea (FOB) - 2022
- Nickel; Unwrought, Alloys Imports in South Korea
- Nickel; Unwrought, Alloys Exports in South Korea
Nickel; Unwrought, Alloys Price in South Korea (CIF) - 2022
In 2022, the average nickel; unwrought, alloys import price amounted to $34,277 per ton, increasing by 25% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nickel; unwrought, alloys import price increased by +62.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 30% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($91,024 per ton), while the price for India ($25,668 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Nickel; Unwrought, Alloys Price in South Korea (FOB) - 2022
In 2022, the average nickel; unwrought, alloys export price amounted to $6,546 per ton, declining by -71.7% against the previous year. Overall, the export price saw a abrupt slump. The growth pace was the most rapid in 2018 an increase of 67%. Over the period under review, the average export prices reached the maximum at $23,169 per ton in 2021, and then fell notably in the following year.
As there is only one major export destination, the average price level is determined by prices for Taiwan (Chinese).
From 2012 to 2022, the rate of growth in terms of prices for India amounted to +18.9% per year.
Nickel; Unwrought, Alloys Imports in South Korea
In 2022, purchases abroad of nickel; unwrought, alloyses decreased by -10.2% to 475 tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +4.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 46%. As a result, imports attained the peak of 602 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, nickel; unwrought, alloys imports expanded rapidly to $16M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +19.6% 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 +71.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
| Import of Nickel; Unwrought, Alloys in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 1.3 | 2.3 | 3.9 | 5.4 | 60.7% |
| Japan | 1.0 | 1.5 | 1.5 | 3.7 | 54.7% |
| South Africa | 1.2 | 2.2 | 2.1 | 3.0 | 35.7% |
| United States | 1.4 | 2.5 | 3.7 | 2.4 | 19.7% |
| India | 0.7 | 1.1 | 0.8 | 0.8 | 4.6% |
| United Kingdom | 2.7 | 1.9 | 0.9 | 0.7 | -36.2% |
| Norway | N/A | 0.7 | N/A | N/A | 0% |
| Australia | 0.7 | N/A | 0.3 | N/A | -34.5% |
| Others | 0.6 | 0.3 | 1.3 | 0.2 | -30.7% |
| Total | 9.5 | 12.7 | 14.5 | 16.3 | 19.7% |
Top Suppliers of Nickel; Unwrought, Alloys to South Korea in 2022:
- Belgium (155.6 tons)
- Japan (116.5 tons)
- South Africa (114.6 tons)
- India (32.2 tons)
- United States (25.9 tons)
- United Kingdom (22.3 tons)
Nickel; Unwrought, Alloys Exports in South Korea
In 2022, the amount of nickel; unwrought, alloyses exported from South Korea skyrocketed to 12 tons, surging by 199% on the year before. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 1,890% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, nickel; unwrought, alloys exports dropped rapidly to $78K in 2022. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 1,732%. As a result, the exports reached the peak of $153K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Nickel; Unwrought, Alloys in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | N/A | 22.7 | 6.7 | 75.6 | 82.5% |
| Vietnam | 8.2 | N/A | 40.5 | N/A | 122.2% |
| India | N/A | 78.6 | 6.4 | N/A | -91.9% |
| Indonesia | N/A | 51.6 | N/A | N/A | 0% |
| Others | 0.2 | 0.1 | 38.1 | 1.9 | 111.8% |
| Total | 8.4 | 153 | 91.7 | 77.6 | 109.8% |
Top Export Markets for Nickel; Unwrought, Alloys from South Korea in 2022:
- Taiwan (Chinese) (11.8 tons)
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This report provides an in-depth analysis of the nickel market in Republic of Korea.
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This report provides an in-depth analysis of the global nickel market.
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This report provides an in-depth analysis of the nickel market in Republic of Korea.
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This report provides an in-depth analysis of the nickel market in Republic of Korea.
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This report provides an in-depth analysis of the global nickel market.
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This report provides an in-depth analysis of the global nickel market.
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Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
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Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
992
Canada continued to dominate in the global unwrought nickel trade. In 2014, Canada exported X thousand tons of unwrought nickel totaling X million USD, X% under the previous year. Its primary trading partner was the U.S., where it supplied X%
1800
The Russian Federation dominates in the global unwrought nickel trade. In 2014, Russian Federation exported more than X thousand tons of unwrought nickel totaling X billion USD, X% over the previous year. Its primary trading partner was China, wh
878
Nickel prices skyrocketed on the expectations of a shortage on the global market provoked by the increase in demand that outpaces the supply growth. The rebound in the steel industry and rising electric vehicle manufacturing drive nickel consumption. Pandemic-related lockdowns in the first half of 2020 and the related uncertainty led to a decrease in the global nickel mine output by -4% y-o-y. Despite this, refined nickel production increased by +2% y-o-y, boosted by the recovering demand from mid-2020 and the use of secondary smelting. Indonesia, the largest nickel ore producer worldwide, banned exports of the ore and thus achieved a record output of refined nickel.
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Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
799
Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
992
Canada continued to dominate in the global unwrought nickel trade. In 2014, Canada exported X thousand tons of unwrought nickel totaling X million USD, X% under the previous year. Its primary trading partner was the U.S., where it supplied X%
1800
The Russian Federation dominates in the global unwrought nickel trade. In 2014, Russian Federation exported more than X thousand tons of unwrought nickel totaling X billion USD, X% over the previous year. Its primary trading partner was China, wh
