Price for Chain and Parts Thereof, of Iron or Steel in Vietnam - 2022
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in Vietnam (CIF) - 2022
- Price for Chain and Parts Thereof, of Iron or Steel in Vietnam (FOB) - 2022
- Imports of Chain and Parts Thereof, of Iron or Steel in Vietnam
- Exports of Chain and Parts Thereof, of Iron or Steel in Vietnam
Price for Chain and Parts Thereof, of Iron or Steel in Vietnam (CIF) - 2022
The average import price for chain and parts thereof, of iron or steel stood at $7,609 per ton in December 2022, which is down by -16.5% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2022 an increase of 26% m-o-m. Over the period under review, average import prices attained the peak figure at $9,293 per ton in September 2022; however, from October 2022 to December 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Malaysia ($13,378 per ton), while the price for China ($6,287 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.6%), 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 Vietnam (FOB) - 2022
The average export price for chain and parts thereof, of iron or steel stood at $9,186 per ton in December 2022, increasing by 7.1% against the previous month. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was the United States ($10,944 per ton), while the average price for exports to Bangladesh ($6,054 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+0.4%), 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 Vietnam
In 2022, the amount of chain and parts thereof, of iron or steel imported into Vietnam contracted slightly to 11K tons, leveling off at the previous year's figure. Overall, imports saw a pronounced shrinkage. The growth pace was the most rapid in 2021 with an increase of 5.5%.
In value terms, imports of chain and parts thereof, of iron or steel expanded markedly to $90M in 2022. The total import value increased at an average annual rate of +10.1% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the near future.
| Import of Chain and Parts Thereof, of Iron or Steel in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 32.7 | 36.5 | 46.9 | 53.3 | 17.7% |
| Thailand | 10.0 | 7.8 | 8.3 | 9.6 | -1.4% |
| Malaysia | 3.8 | 3.7 | 5.4 | 5.9 | 15.8% |
| South Korea | 4.7 | 3.6 | 4.5 | 5.0 | 2.1% |
| Taiwan (Chinese) | 2.9 | 4.1 | 3.8 | 4.7 | 17.5% |
| Japan | 4.9 | 3.5 | 3.9 | 3.8 | -8.1% |
| Italy | 1.1 | 1.1 | 1.7 | 2.0 | 22.1% |
| Germany | 2.2 | 1.9 | 1.8 | 1.5 | -12.0% |
| Others | 4.7 | 4.4 | 4.2 | 3.8 | -6.8% |
| Total | 67.2 | 66.8 | 80.5 | 89.6 | 10.1% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to Vietnam in 2022:
- China (6.9K tons)
- Thailand (0.8K tons)
- South Korea (0.7K tons)
- Malaysia (0.5K tons)
- Taiwan (Chinese) (0.4K tons)
- Japan (0.3K tons)
- Italy (0.2K tons)
- Germany (0.2K tons)
Exports of Chain and Parts Thereof, of Iron or Steel in Vietnam
Exports of chain and parts thereof, of iron or steel from Vietnam skyrocketed to 2.7K tons in 2022, with an increase of 34% on 2021 figures. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 when exports increased by 105% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, exports of chain and parts thereof, of iron or steel skyrocketed to $23M in 2022. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Chain and Parts Thereof, of Iron or Steel in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | N/A | N/A | 1.1 | 3.5 | 218.2% |
| South Korea | N/A | N/A | 1.3 | 2.9 | 123.1% |
| Taiwan (Chinese) | 1.2 | 2.5 | 2.7 | 2.1 | 20.5% |
| Cambodia | 1.3 | 1.4 | 1.3 | 1.9 | 13.5% |
| Italy | 1.0 | 1.3 | 1.9 | 1.8 | 21.6% |
| Malaysia | 1.1 | 0.9 | 1.4 | 1.6 | 13.3% |
| United States | N/A | 0.4 | 0.6 | 1.2 | 73.2% |
| Netherlands | N/A | 0.3 | 0.2 | 1.1 | 91.5% |
| France | 0.1 | 0.5 | 0.5 | 1.1 | 122.4% |
| Indonesia | 1.1 | 1.6 | 1.9 | 0.9 | -6.5% |
| Poland | 0.2 | 0.4 | 0.6 | 0.8 | 58.7% |
| China | 1.2 | 0.9 | 0.4 | 0.5 | -25.3% |
| Thailand | 0.5 | 0.8 | 0.6 | 0.5 | 0.0% |
| Others | 2.9 | 3.1 | 3.6 | 3.7 | 8.5% |
| Total | 10.7 | 13.9 | 18.0 | 23.4 | 29.8% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from Vietnam in 2022:
- United Kingdom (377.7 tons)
- South Korea (303.5 tons)
- Cambodia (263.9 tons)
- Taiwan (Chinese) (234.9 tons)
- Italy (209.4 tons)
- Malaysia (157.2 tons)
- Netherlands (124.6 tons)
- France (123.7 tons)
- United States (121.0 tons)
- Indonesia (109.9 tons)
- Poland (89.7 tons)
- Thailand (56.3 tons)
- China (55.8 tons)
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