Pig Iron Market Overview in South Korea
In value terms, pig iron production rose markedly to $ in estimated in export prices. In general, production saw a modest increase. The growth pace was the most rapid in 2015 with an increase of % year-to-year. Over the period under review, production reached the peak level at $ in 2011; however, from 2012 to , production remained at a lower figure.
The value of the pig iron market in South Korea expanded notably to $ in , growing by % 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, the total consumption indicated a perceptible increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. The most prominent rate of growth was recorded in 2010 when the market value increased by % against the previous year. Pig iron consumption peaked at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.