Price for Cobalt Ores and Concentrates in South Korea - 2022

Contents:

1. Price for Cobalt Ores and Concentrates in South Korea (CIF) - 2022
2. Price for Cobalt Ores and Concentrates in South Korea (FOB) - 2022
3. Imports of Cobalt Ores and Concentrates in South Korea
4. Exports of Cobalt Ores and Concentrates in South Korea

Price for Cobalt Ores and Concentrates in South Korea (CIF) - 2022

The average cobalt ores and concentrates import price stood at $14,331 per ton in 2022, increasing by 9.8% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 69% against the previous year. As a result, import price reached the peak level of $36,069 per ton. From 2019 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Congo.

From 2012 to 2022, the rate of growth in terms of prices for Congo amounted to +0.7% per year.

Price for Cobalt Ores and Concentrates in South Korea (FOB) - 2022

The average cobalt ores and concentrates export price stood at $6,337 per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 37%. As a result, the export price reached the peak level of $6,955 per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($18,420 per ton), while the average price for exports to China ($5,921 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 South Africa (+4.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cobalt Ores and Concentrates in South Korea

In 2022, overseas purchases of cobalt ores and concentrateses decreased by -0.2% to 12 tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 9.7% against the previous year. As a result, imports attained the peak of 13 tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cobalt ores and concentrates imports rose significantly to $166K in 2022. In general, imports continue to indicate a deep setback.

Top Suppliers of Cobalt Ores and Concentrates to South Korea in 2022:

1. Congo (11.6 tons)

Exports of Cobalt Ores and Concentrates in South Korea

In 2022, approx. 19 tons of cobalt ores and concentrateses were exported from South Korea; waning by -20.7% compared with the previous year's figure. Over the period under review, exports showed a dramatic downturn. The pace of growth was the most pronounced in 2021 with an increase of 71%.

In value terms, cobalt ores and concentrates exports fell dramatically to $120K in 2022. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 78%.

Top Export Markets for Cobalt Ores and Concentrates from South Korea in 2022:

1. China (17.3 tons)
2. South Africa (1.1 tons)
3. Vietnam (0.6 tons)

Source: IndexBox Market Intelligence Platform