Republic of Korea: Ferro-Alloys Market 2025

Ferro-Alloys Market Size in Republic of Korea

The South Korean ferro-alloys market fell to $X in 2022, shrinking by X% against the previous year. Overall, consumption continues to indicate a pronounced decline. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Ferro-Alloys Production in Republic of Korea

In value terms, ferro-alloys production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Ferro-Alloys Exports

Exports from Republic of Korea

In 2022, after four years of growth, there was significant decline in shipments abroad of ferro-alloys, when their volume decreased by X% to X tons. Overall, exports recorded a pronounced slump. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-alloys exports declined sharply to $X in 2022. In general, exports, however, saw a temperate expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

China (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of ferro-alloys exports from South Korea, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and the Netherlands ($X) were the largest markets for ferro-alloys exported from South Korea worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ferro-alloys export price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Vietnam ($X 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 Ukraine (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into Republic of Korea

Ferro-alloys imports into South Korea reduced to X tons in 2022, waning by X% against the previous year. In general, imports continue to indicate a mild slump. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, ferro-alloys imports contracted rapidly to $X in 2022. Over the period under review, imports saw a perceptible curtailment. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Africa (X tons), China (X tons) and India (X tons) were the main suppliers of ferro-alloys imports to South Korea, together accounting for X% of total imports. Malaysia, Kazakhstan, Indonesia, Brazil, Russia, Japan, Vietnam and Ukraine lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ferro-alloys suppliers to South Korea were China ($X), South Africa ($X) and Brazil ($X), together accounting for X% of total imports. India, Malaysia, Indonesia, Kazakhstan, Russia, Japan, Vietnam and Ukraine lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ferro-alloys import price stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Brazil ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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