Price for Safety Pins and Other Pins; of Iron or Steel in China - 2024
Contents:
- Price for Safety Pins and Other Pins; of Iron or Steel in China (FOB) - 2024
- Price for Safety Pins and Other Pins; of Iron or Steel in China (CIF) - 2022
- Exports of Safety Pins and Other Pins; of Iron or Steel in China
- Imports of Safety Pins and Other Pins; of Iron or Steel in China
Price for Safety Pins and Other Pins; of Iron or Steel in China (FOB) - 2024
In May 2024, the average export price for safety pins and other pins; of iron or steels amounted to $4,702 per ton, reducing by -12.1% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2023 when the average export price increased by 9.6% m-o-m. Over the period under review, the average export prices hit record highs at $5,369 per ton in March 2024; however, from April 2024 to May 2024, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In May 2024, the country with the highest price was Turkey ($6,017 per ton), while the average price for exports to India ($3,555 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Safety Pins and Other Pins; of Iron or Steel in China (CIF) - 2022
In 2022, the average import price for safety pins and other pins; of iron or steels amounted to $16,640 per ton, declining by -29.2% against the previous year. Overall, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2016 an increase of 21%. Over the period under review, average import prices attained the maximum at $25,420 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($82,648 per ton), while the price for Taiwan (Chinese) ($3,421 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.9%), while the prices for the other major suppliers experienced a decline.
Exports of Safety Pins and Other Pins; of Iron or Steel in China
In 2022, the amount of safety pins and other pins; of iron or steels exported from China skyrocketed to 10K tons, picking up by 22% compared with 2021 figures. In general, exports, however, continue to indicate a mild decline.
In value terms, exports of safety pins and other pins; of iron or steels surged to $55M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +7.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Safety Pins and Other Pins; of Iron or Steel in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.8 | 2.6 | 4.6 | 7.1 | 36.4% |
| Indonesia | 3.7 | 2.9 | 3.5 | 3.5 | -1.8% |
| Bangladesh | 1.9 | 1.3 | 1.8 | 2.9 | 15.1% |
| Egypt | 1.9 | 2.6 | 2.4 | 2.8 | 13.8% |
| Thailand | 1.2 | 1.2 | 1.4 | 2.5 | 27.7% |
| Philippines | 1.2 | 0.9 | 1.5 | 2.4 | 26.0% |
| Malaysia | 1.2 | 1.4 | 1.3 | 2.2 | 22.4% |
| India | 2.2 | 1.4 | 1.2 | 1.6 | -10.1% |
| Turkey | 1.7 | 1.6 | 1.3 | 1.3 | -8.6% |
| Mexico | 0.8 | 0.5 | 0.8 | 1.1 | 11.2% |
| Pakistan | 0.7 | 0.5 | 0.5 | 1.0 | 12.6% |
| South Korea | 1.0 | 0.6 | 0.8 | 0.9 | -3.5% |
| Canada | 0.6 | 0.5 | 0.6 | 0.7 | 5.3% |
| Others | 23.1 | 18.5 | 18.5 | 24.8 | 2.4% |
| Total | 44.1 | 36.5 | 40.3 | 54.9 | 7.6% |
Top Export Markets for Safety Pins and Other Pins; of Iron or Steel from China in 2022:
- United States (1044.4 tons)
- Indonesia (754.1 tons)
- Bangladesh (534.2 tons)
- Philippines (470.1 tons)
- Thailand (450.0 tons)
- Egypt (422.1 tons)
- Malaysia (378.1 tons)
- Pakistan (334.1 tons)
- India (332.1 tons)
- South Korea (300.5 tons)
- Turkey (239.6 tons)
- Mexico (180.2 tons)
- Canada (173.3 tons)
Imports of Safety Pins and Other Pins; of Iron or Steel in China
For the third consecutive year, China recorded decline in overseas purchases of safety pins and other pins; of iron or steels, which decreased by -11.2% to 20 tons in 2022. Over the period under review, imports saw a deep downturn. The smallest decline of -10.4% was in 2021.
In value terms, imports of safety pins and other pins; of iron or steels dropped dramatically to $335K in 2022. In general, imports recorded a sharp curtailment. The smallest decline of -3.4% was in 2021.
| Import of Safety Pins and Other Pins; of Iron or Steel in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 100 | 108 | 187 | 109 | 2.9% |
| Japan | 270 | 270 | 134 | 101 | -27.9% |
| India | 0.9 | 1.0 | 33.4 | 39.3 | 252.1% |
| United States | 212 | 97.9 | 127 | 23.5 | -52.0% |
| Taiwan (Chinese) | 64.3 | 15.0 | 7.2 | 3.3 | -62.8% |
| Others | 59.9 | 59.4 | 43.8 | 59.3 | -0.3% |
| Total | 708 | 551 | 533 | 335 | -22.1% |
Top Suppliers of Safety Pins and Other Pins; of Iron or Steel to China in 2022:
- South Korea (12.4 tons)
- Japan (4.4 tons)
- Taiwan (Chinese) (1.0 tons)
- India (0.5 tons)
- United States (0.3 tons)
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