Price for Platinum; Unwrought or in Semi-Manufactured Forms in South Korea - 2022

Contents:

1. Price for Platinum; Unwrought or in Semi-Manufactured Forms in South Korea (CIF) - 2022
2. Price for Platinum; Unwrought or in Semi-Manufactured Forms in South Korea (FOB) - 2022
3. Imports of Platinum; Unwrought or in Semi-Manufactured Forms in South Korea
4. Exports of Platinum; Unwrought or in Semi-Manufactured Forms in South Korea

Price for Platinum; Unwrought or in Semi-Manufactured Forms in South Korea (CIF) - 2022

The average import price for platinum; unwrought or in semi-manufactured formses stood at $71.9M per ton in December 2022, with a decrease of -4.5% against the previous month. Overall, the import price showed a slight setback. The pace of growth appeared the most rapid in February 2022 an increase of 12% m-o-m. The import price peaked at $105M per ton in April 2022; afterwards, it flattened through to December 2022.

Prices varied noticeably by the country of origin: the country with the highest price was South Africa ($88.7M per ton), while the price for the United States ($19.7M 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 Japan (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Platinum; Unwrought or in Semi-Manufactured Forms in South Korea (FOB) - 2022

The average export price for platinum; unwrought or in semi-manufactured formses stood at $53,662,202 per ton in 2022, with a decrease of -9.6% against the previous year. In general, the export price, however, showed a significant expansion. The pace of growth appeared the most rapid in 2013 an increase of 183%. Over the period under review, the average export prices reached the maximum at $59,332,771 per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($83,525,504 per ton), while the average price for exports to Singapore ($2,957,303 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 the United States (+60.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Platinum; Unwrought or in Semi-Manufactured Forms in South Korea

In 2022, after three years of growth, there was significant decline in overseas purchases of platinum; unwrought or in semi-manufactured formses, when their volume decreased by -26.6% to 30 tons. Overall, total imports indicated moderate growth from 2019 to 2022: its volume increased at an average annual rate of +4.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 49%.

In value terms, imports of platinum; unwrought or in semi-manufactured formses shrank to $2.6B in 2022. In general, imports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. As a result, imports reached the peak of $3B, and then contracted in the following year.

Top Suppliers of Platinum; Unwrought or in Semi-Manufactured Forms to South Korea in 2022:

1. Japan (9.4 tons)
2. South Africa (7.4 tons)
3. United Kingdom (4.7 tons)
4. Norway (2.7 tons)
5. Belgium (1.9 tons)
6. Russia (1.3 tons)
7. Germany (1.1 tons)
8. United States (0.9 tons)

Exports of Platinum; Unwrought or in Semi-Manufactured Forms in South Korea

After three years of growth, overseas shipments of platinum; unwrought or in semi-manufactured formses decreased by -25.1% to 17 tons in 2022. In general, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 148% against the previous year. As a result, the exports attained the peak of 22 tons, and then shrank notably in the following year.

In value terms, exports of platinum; unwrought or in semi-manufactured formses dropped notably to $898M in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 204% against the previous year.

Top Export Markets for Platinum; Unwrought or in Semi-Manufactured Forms from South Korea in 2022:

1. United Kingdom (4.0 tons)
2. United States (3.9 tons)
3. Singapore (2.6 tons)
4. Japan (2.5 tons)
5. Hong Kong SAR (1.3 tons)
6. Switzerland (0.8 tons)
7. Taiwan (Chinese) (0.4 tons)
8. Indonesia (0.3 tons)
9. Vietnam (0.3 tons)
10. China (0.3 tons)
11. Germany (0.2 tons)

Source: IndexBox Market Intelligence Platform