May 21, 20231 min
South Korea's helium pricing is catching up with its Asian counterparts. In April'23, South Korean pricing hit a new high of US$488/mcf (YTD +32% y/y). All Asian markets are experiencing a rapid increase in helium pricing due to the global supply constraints. Asian markets are known to have higher pricing as most of their volumes come from either US or Qatar, leading to higher transportation cost.
China, Taiwan, and India have witnessed sharp price rises in 2022, and by Jan'23, all these countries had crossed the US$500/mcf mark. Japan pricing shot up considerably to US$560/mcf in Mar'23. South Korea was lagging behind all through 2022 at sub-US$400/mcf levels. But post Nov'22, pricing has spiked to match up with the average Asian pricing, and is already inching towards the US$500/mcf level in just 6 months.
Unlike other countries, South Korea pricing has been less choppy (especially when compared to India, Taiwan, or Japan), so it is likely that South Korea will continue this upward trend through 2023.