Republic of Korea: Ferro-Molybdenum Market 2024

Ferro-Molybdenum Market Size in Republic of Korea

The South Korean ferro-molybdenum market dropped to $X in 2022, which is down by -14.1% against the previous year. Over the period under review, consumption, however, showed noticeable growth. Ferro-molybdenum consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Ferro-Molybdenum Production in Republic of Korea

In value terms, ferro-molybdenum production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, saw a strong increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 51%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Ferro-Molybdenum Exports

Exports from Republic of Korea

Ferro-molybdenum exports from South Korea fell modestly to X tons in 2022, which is down by -1.8% compared with the previous year's figure. Over the period under review, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 140% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-molybdenum exports dropped to $X in 2022. Overall, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 69%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), India (X tons) and Germany (X tons) were the main destinations of ferro-molybdenum exports from South Korea, together accounting for 27% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +62.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the Netherlands ($X) and Germany ($X) constituted the largest markets for ferro-molybdenum exported from South Korea worldwide, together comprising 30% of total exports.

Germany, with a CAGR of +58.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ferro-molybdenum export price stood at $X per ton in 2022, declining by -6.6% against the previous year. Over the period under review, the export price showed a pronounced decline. The pace of growth appeared the most rapid in 2017 an increase of 38% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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 States (+0.7%), while the prices for the other major destinations experienced a decline.

Ferro-Molybdenum Imports

Imports into Republic of Korea

In 2022, the amount of ferro-molybdenum imported into South Korea shrank dramatically to X tons, declining by -47% on the year before. In general, imports showed a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 1,947% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, ferro-molybdenum imports declined remarkably to $X in 2022. Overall, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 1,859%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of ferro-molybdenum to South Korea, with a 96% share of total imports. It was followed by Belgium (X tons), with a 3% share of total imports. The United Arab Emirates (X kg) ranked third in terms of total imports with a 0.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+16.5% per year) and the United Arab Emirates (-21.9% per year).

In value terms, China ($X) constituted the largest supplier of ferro-molybdenum to South Korea, comprising 96% of total imports. The second position in the ranking was taken by Belgium ($X), with a 2.1% share of total imports. It was followed by the United Arab Emirates, with a 0.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+9.8% per year) and the United Arab Emirates (-17.4% per year).

Import Prices by Country

The average ferro-molybdenum import price stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 52% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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