Republic of Korea: Ferro-Manganese Market 2025

Ferro-Manganese Market Size in Republic of Korea

In 2022, the South Korean ferro-manganese market was finally on the rise to reach $X after two years of decline. Overall, consumption posted tangible growth. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Ferro-Manganese Production in Republic of Korea

In value terms, ferro-manganese production declined slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 70% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Ferro-Manganese Exports

Exports from Republic of Korea

In 2022, approx. X tons of ferro-manganese were exported from South Korea; waning by -28.8% against 2021. In general, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2021 when exports increased by 136%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-manganese exports shrank rapidly to $X in 2022. Overall, exports recorded a mild decline. The most prominent rate of growth was recorded in 2021 when exports increased by 248% against the previous year. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

The United States (X tons), Saudi Arabia (X tons) and the Netherlands (X tons) were the main destinations of ferro-manganese exports from South Korea, with a combined 29% share of total exports. Brazil, India, the United Arab Emirates, Mexico, Taiwan (Chinese), Indonesia, Russia, Japan, Sweden and Italy lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +39.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for ferro-manganese exports from South Korea, comprising 19% of total exports. The second position in the ranking was held by Brazil ($X), with an 8.9% share of total exports. It was followed by India, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+16.6% per year) and India (+2.1% per year).

Export Prices by Country

The average ferro-manganese export price stood at $X per ton in 2022, waning by -9.6% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-manganese export price increased by +33.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 71%. The export price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($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 the United Arab Emirates (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Manganese Imports

Imports into Republic of Korea

In 2022, approx. X tons of ferro-manganese were imported into South Korea; shrinking by -21.4% compared with the previous year's figure. Over the period under review, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2021 when imports increased by 75% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, ferro-manganese imports fell slightly to $X in 2022. In general, imports showed a deep setback. The pace of growth was the most pronounced in 2014 when imports increased by 8.3%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Ukraine (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of ferro-manganese imports to South Korea, with a combined 73% share of total imports. Australia, Norway, Malaysia, China, South Africa and Vietnam lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +21.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest ferro-manganese suppliers to South Korea were Ukraine ($X), India ($X) and Taiwan (Chinese) ($X), together accounting for 79% of total imports. Norway, Australia, Malaysia, China, Vietnam and South Africa lagged somewhat behind, together accounting for a further 17%.

Malaysia, with a CAGR of +26.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ferro-manganese import price stood at $X per ton in 2022, with an increase of 25% against the previous year. Overall, the import price recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 136%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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