Price for Chain and Parts Thereof, of Iron or Steel in Malaysia - 2024
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in Malaysia (CIF) - 2024
- Price for Chain and Parts Thereof, of Iron or Steel in Malaysia (FOB) - 2022
- Imports of Chain and Parts Thereof, of Iron or Steel in Malaysia
- Exports of Chain and Parts Thereof, of Iron or Steel in Malaysia
Price for Chain and Parts Thereof, of Iron or Steel in Malaysia (CIF) - 2024
In January 2024, the average import price for chain and parts thereof, of iron or steel amounted to $3,168 per ton, falling by -18.1% against the previous month. Overall, the import price saw a slight reduction. The growth pace was the most rapid in February 2023 when the average import price increased by 27% month-to-month. As a result, import price reached the peak level of $4,958 per ton. From March 2023 to January 2024, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Japan ($12,888 per ton), while the price for Taiwan (Chinese) ($1,136 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Singapore (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Chain and Parts Thereof, of Iron or Steel in Malaysia (FOB) - 2022
In 2022, the average export price for chain and parts thereof, of iron or steel amounted to $4,212 per ton, growing by 17% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($10,349 per ton), while the average price for exports to Australia ($2,584 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 Brazil (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Chain and Parts Thereof, of Iron or Steel in Malaysia
In 2022, approx. 19K tons of chain and parts thereof, of iron or steel were imported into Malaysia; which is down by -19.6% against the previous year. Over the period under review, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 29%.
In value terms, imports of chain and parts thereof, of iron or steel reduced modestly to $70M in 2022. In general, imports recorded a pronounced reduction. The growth pace was the most rapid in 2021 with an increase of 34%.
| Import of Chain and Parts Thereof, of Iron or Steel in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 31.6 | 28.9 | 44.5 | 35.7 | 4.2% |
| Japan | 5.1 | 3.5 | 6.9 | 14.3 | 41.0% |
| Singapore | 3.3 | 2.8 | 2.2 | 2.7 | -6.5% |
| Taiwan (Chinese) | 2.8 | 3.0 | 2.5 | 2.3 | -6.3% |
| Thailand | 3.6 | 1.4 | 1.5 | 2.3 | -13.9% |
| Germany | 2.7 | 2.5 | 3.2 | 2.0 | -9.5% |
| South Africa | 1.3 | 2.0 | 3.0 | 1.8 | 11.5% |
| Vietnam | 1.3 | 0.9 | 1.4 | 1.8 | 11.5% |
| United States | 3.0 | 1.8 | 2.5 | 1.7 | -17.2% |
| South Korea | 15.8 | 0.2 | 0.2 | 0.4 | -70.6% |
| Others | 7.3 | 6.7 | 4.3 | 5.4 | -9.6% |
| Total | 77.8 | 53.7 | 72.1 | 70.4 | -3.3% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to Malaysia in 2022:
- China (13.0K tons)
- Japan (1.4K tons)
- Vietnam (1.3K tons)
- Taiwan (Chinese) (0.7K tons)
- South Africa (0.7K tons)
- Singapore (0.4K tons)
- Thailand (0.4K tons)
- United States (0.2K tons)
- Germany (0.2K tons)
Exports of Chain and Parts Thereof, of Iron or Steel in Malaysia
In 2022, approx. 12K tons of chain and parts thereof, of iron or steel were exported from Malaysia; declining by -7.3% compared with 2021. Over the period under review, exports saw a mild curtailment. The pace of growth was the most pronounced in 2021 with an increase of 20%. As a result, the exports attained the peak of 13K tons, and then dropped in the following year.
In value terms, exports of chain and parts thereof, of iron or steel rose rapidly to $51M in 2022. The total export value increased at an average annual rate of +4.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in the near future.
| Export of Chain and Parts Thereof, of Iron or Steel in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 15.2 | 11.0 | 12.7 | 14.6 | -1.3% |
| Thailand | 7.9 | 5.3 | 8.9 | 9.5 | 6.3% |
| Vietnam | 4.3 | 4.1 | 5.4 | 6.1 | 12.4% |
| Singapore | 3.0 | 5.0 | 4.6 | 3.8 | 8.2% |
| France | 2.9 | 2.1 | 0.6 | 2.5 | -4.8% |
| Philippines | 1.9 | 1.6 | 2.1 | 2.4 | 8.1% |
| China | 0.9 | 3.4 | 3.0 | 2.3 | 36.7% |
| United States | 1.5 | 2.0 | 1.6 | 1.5 | 0.0% |
| India | 1.7 | 1.6 | 1.9 | 1.1 | -13.5% |
| Australia | 0.2 | 0.3 | 0.6 | 0.7 | 51.8% |
| Japan | 0.3 | 0.3 | 0.3 | 0.7 | 32.6% |
| Pakistan | 0.7 | 0.7 | 0.7 | 0.6 | -5.0% |
| Others | 3.9 | 3.8 | 5.7 | 5.6 | 12.8% |
| Total | 44.5 | 40.9 | 48.1 | 51.3 | 4.9% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from Malaysia in 2022:
- Indonesia (3845.7 tons)
- Thailand (2418.7 tons)
- Vietnam (1560.4 tons)
- Philippines (858.6 tons)
- Singapore (636.8 tons)
- China (417.2 tons)
- United States (313.6 tons)
- Australia (264.7 tons)
- India (250.1 tons)
- France (242.3 tons)
- Japan (227.7 tons)
- Pakistan (209.9 tons)
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