Sulphates; of Nickel Price in South Korea - 2022
Contents:
- Sulphates; of Nickel Price in South Korea (FOB) - 2022
- Sulphates; of Nickel Price in South Korea (CIF) - 2022
- Sulphates; of Nickel Exports in South Korea
- Sulphates; of Nickel Imports in South Korea
Sulphates; of Nickel Price in South Korea (FOB) - 2022
In December 2022, the average sulphates; of nickel export price amounted to $5,876 per ton, picking up by 11% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.1%. The growth pace was the most rapid in March 2022 an increase of 24% month-to-month. Over the period under review, the average export prices attained the maximum at $7,137 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 export markets. In December 2022, the country with the highest price was Japan ($6,536 per ton), while the average price for exports to China ($4,195 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 the Philippines (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.
Sulphates; of Nickel Price in South Korea (CIF) - 2022
The average sulphates; of nickel import price stood at $5,075 per ton in December 2022, dropping by -10.8% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in May 2022 an increase of 31% month-to-month. The import price peaked at $7,578 per ton in June 2022; however, from July 2022 to December 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the highest price was recorded for prices from Japan ($5,884 per ton) and Belgium ($5,682 per ton), while the price for South Africa ($4,366 per ton) and Finland ($5,564 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 Belgium (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Sulphates; of Nickel Exports in South Korea
After three years of growth, shipments abroad of sulphates; of nickels decreased by -8% to 28K tons in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +17.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.1% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year.
In value terms, sulphates; of nickel exports shrank markedly to $115M in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2021 with an increase of 72% against the previous year. As a result, the exports reached the peak of $146M, and then fell notably in the following year.
| Export of Sulphates; of Nickel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 56.9 | 76.9 | 82.2 | 65.1 | 4.6% |
| China | 0.5 | 2.7 | 60.8 | 48.2 | 358.5% |
| Philippines | 2.8 | 2.4 | 1.4 | 1.3 | -22.6% |
| Others | 1.0 | 2.8 | 1.8 | 0.9 | -3.5% |
| Total | 61.3 | 84.9 | 146 | 115 | 23.3% |
Top Export Markets for Sulphates; of Nickel from South Korea in 2022:
- Japan (15.7K tons)
- China (11.9K tons)
- Philippines (0.5K tons)
Sulphates; of Nickel Imports in South Korea
In 2022, purchases abroad of sulphates; of nickels was finally on the rise to reach 6.2K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a sharp slump.
In value terms, sulphates; of nickel imports stood at $24M in 2022. Over the period under review, imports, however, recorded a deep downturn.
| Import of Sulphates; of Nickel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 21.3 | 14.5 | 10.7 | 11.4 | -18.8% |
| Belgium | 13.1 | 8.9 | 8.1 | 7.4 | -17.3% |
| South Africa | N/A | N/A | 3.5 | 2.6 | -25.7% |
| Taiwan (Chinese) | 7.2 | 0.6 | 1.0 | 2.2 | -32.6% |
| Japan | 1.4 | 0.6 | 0.5 | 0.6 | -24.6% |
| Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Total | 43.1 | 24.6 | 23.9 | 24.3 | -17.4% |
Top Suppliers of Sulphates; of Nickel to South Korea in 2022:
- Finland (2.9K tons)
- Belgium (1.8K tons)
- South Africa (0.8K tons)
- Taiwan (Chinese) (0.6K tons)
- Japan (0.1K tons)
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