Republic of Korea: Ferro-Silico-Manganese Market 2025

Ferro-Silico-Manganese Market Size in Republic of Korea

The South Korean ferro-silico-manganese market declined to $X in 2022, with a decrease of -5.1% against the previous year. In general, consumption saw a slight curtailment. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Ferro-Silico-Manganese Production in Republic of Korea

In value terms, ferro-silico-manganese production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Ferro-Silico-Manganese Exports

Exports from Republic of Korea

In 2022, approx. X tons of ferro-silico-manganese were exported from South Korea; rising by 29% on 2021. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 273%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ferro-silico-manganese exports soared to $X in 2022. Over the period under review, exports, however, faced a abrupt setback. The pace of growth was the most pronounced in 2020 when exports increased by 199%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for ferro-silico-manganese exports from South Korea, with a 72% share of total exports. Moreover, ferro-silico-manganese exports to Japan exceeded the volume sent to the second major destination, Vietnam (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to -8.3%.

In value terms, the largest markets for ferro-silico-manganese exported from South Korea were Japan ($X) and Vietnam ($X).

Among the main countries of destination, Vietnam, with a CAGR of +155.2%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average ferro-silico-manganese export price stood at $X per ton in 2022, falling by -3% against the previous year. Over the period under review, the export price continues to indicate a slight setback. The most prominent rate of growth was recorded in 2017 an increase of 54%. 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 Vietnam ($X per ton), while the average price for exports to Japan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Silico-Manganese Imports

Imports into Republic of Korea

Ferro-silico-manganese imports into South Korea declined to X tons in 2022, with a decrease of -6.7% compared with the year before. Overall, imports recorded a slight setback. The growth pace was the most rapid in 2014 with an increase of 53% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, ferro-silico-manganese imports shrank to $X in 2022. Over the period under review, imports saw a perceptible downturn. The pace of growth was the most pronounced in 2017 with an increase of 62% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of ferro-silico-manganese to South Korea, accounting for a 80% share of total imports. Moreover, ferro-silico-manganese imports from Malaysia exceeded the figures recorded by the second-largest supplier, India (X tons), ninefold. Vietnam (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +89.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-16.8% per year) and Vietnam (-1.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of ferro-silico-manganese to South Korea, comprising 80% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.9% share of total imports. It was followed by India, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia stood at +87.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-1.2% per year) and India (-19.4% per year).

Import Prices by Country

In 2022, the average ferro-silico-manganese import price amounted to $X per ton, with a decrease of -5.5% against the previous year. Overall, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 36%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and Norway ($X per ton), while the price for India ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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