Republic of Korea: Market for Manganese Ores and Concentrates 2024

Market Size for Manganese Ores and Concentrates in Republic of Korea

The South Korean manganese ore and concentrate market fell to $X in 2022, dropping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. Manganese ore and concentrate consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Manganese Ores and Concentrates

Exports from Republic of Korea

After two years of growth, shipments abroad of manganese ores and concentrates decreased by X% to X tons in 2022. In general, exports, however, posted slight growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted markedly in the following year.

In value terms, manganese ore and concentrate exports contracted sharply to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell dramatically in the following year.

Exports by Country

Vietnam (X tons) was the main destination for manganese ore and concentrate exports from South Korea, with a X% share of total exports. Moreover, manganese ore and concentrate exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam amounted to X%.

In value terms, Vietnam ($X) and China ($X) constituted the largest markets for manganese ore and concentrate exported from South Korea worldwide.

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

Export Prices by Country

The average manganese ore and concentrate export price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price faced a abrupt setback. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced a decline.

Imports of Manganese Ores and Concentrates

Imports into Republic of Korea

In 2022, after two years of growth, there was significant decline in purchases abroad of manganese ores and concentrates, when their volume decreased by X% to X tons. In general, imports continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, manganese ore and concentrate imports dropped to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

South Africa (X tons), Australia (X tons) and Gabon (X tons) were the main suppliers of manganese ore and concentrate imports to South Korea, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Australia ($X), South Africa ($X) and Gabon ($X) appeared to be the largest manganese ore and concentrate suppliers to South Korea, together comprising X% of total imports.

In terms of the main suppliers, South Africa, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average manganese ore and concentrate import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, manganese ore and concentrate import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and Gabon ($X per ton), while the price for Japan ($X per ton) and South Africa ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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