Price for Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates - 2022

Contents:

1. Price for Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates (CIF) - 2022
2. Price for Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates (FOB) - 2022
3. Imports of Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates
4. Exports of Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates

Price for Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates (CIF) - 2022

In 2022, the average import price for chain and parts thereof, of iron or steel amounted to $2,717 per ton, rising by 15% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 72%. As a result, import price reached the peak level of $4,736 per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($14,206 per ton), while the price for China ($1,853 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates (FOB) - 2022

The average export price for chain and parts thereof, of iron or steel stood at $5,338 per ton in 2022, surging by 78% against the previous year. Over the period under review, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 81% against the previous year. As a result, the export price reached the peak level of $5,356 per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($27,861 per ton), while the average price for exports to Tajikistan ($719 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 Singapore (+20.8%), 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 the United Arab Emirates

In 2022, approx. 15K tons of chain and parts thereof, of iron or steel were imported into the United Arab Emirates; with an increase of 3.6% compared with the previous year's figure. Overall, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +15.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 49%. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of chain and parts thereof, of iron or steel soared to $40M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 37%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Chain and Parts Thereof, of Iron or Steel to the United Arab Emirates in 2022:

1. China (13.0K tons)
2. India (0.5K tons)
3. Japan (0.2K tons)
4. Germany (0.2K tons)

Exports of Chain and Parts Thereof, of Iron or Steel in the United Arab Emirates

For the third consecutive year, the United Arab Emirates recorded decline in overseas shipments of chain and parts thereof, of iron or steel, which decreased by -80.9% to 972 tons in 2022. Overall, exports faced a significant curtailment. The smallest decline of -3.4% was in 2021.

In value terms, exports of chain and parts thereof, of iron or steel shrank notably to $5.6M in 2022. In general, exports continue to indicate a significant decrease. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year.

Top Export Markets for Chain and Parts Thereof, of Iron or Steel from the United Arab Emirates in 2022:

1. Oman (497.9 tons)
2. Bahrain (88.1 tons)
3. Senegal (56.6 tons)
4. Kuwait (33.2 tons)
5. Tajikistan (30.7 tons)
6. Zambia (28.0 tons)
7. Singapore (22.7 tons)
8. Mozambique (18.1 tons)
9. Nigeria (16.2 tons)

Source: IndexBox Market Intelligence Platform