Price for Safety Pins and Other Pins; of Iron or Steel in India - 2024

Contents:

1. Price for Safety Pins and Other Pins; of Iron or Steel in India (CIF) - 2022
2. Price for Safety Pins and Other Pins; of Iron or Steel in India (FOB) - 2022
3. Imports of Safety Pins and Other Pins; of Iron or Steel in India
4. Exports of Safety Pins and Other Pins; of Iron or Steel in India

Price for Safety Pins and Other Pins; of Iron or Steel in India (CIF) - 2022

In 2022, the average import price for safety pins and other pins; of iron or steels amounted to $2,129 per ton, falling by -55.7% against the previous year. Overall, the import price faced a deep contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 26% against the previous year. Over the period under review, average import prices attained the maximum at $7,762 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($52,756 per ton), while the price for China ($1,358 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Safety Pins and Other Pins; of Iron or Steel in India (FOB) - 2022

In 2022, the average export price for safety pins and other pins; of iron or steels amounted to $7,939 per ton, increasing by 36% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 135%. As a result, the export price reached the peak level of $14,392 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($20,278 per ton), while the average price for exports to Bahrain ($1,348 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Safety Pins and Other Pins; of Iron or Steel in India

For the fourth consecutive year, India recorded growth in purchases abroad of safety pins and other pins; of iron or steels, which increased by 174% to 2.5K tons in 2022. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of safety pins and other pins; of iron or steels skyrocketed to $5.3M in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +9.4% 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 +67.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 38%. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Safety Pins and Other Pins; of Iron or Steel to India in 2022:

1. China (2330.4 tons)
2. Japan (33.9 tons)
3. Thailand (33.5 tons)
4. Germany (10.4 tons)

Exports of Safety Pins and Other Pins; of Iron or Steel in India

In 2022, shipments abroad of safety pins and other pins; of iron or steels was finally on the rise to reach 64 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a deep setback.

In value terms, exports of safety pins and other pins; of iron or steels soared to $511K in 2022. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Safety Pins and Other Pins; of Iron or Steel from India in 2022:

1. Bangladesh (8.8 tons)
2. United States (8.8 tons)
3. Bahrain (6.6 tons)
4. Sri Lanka (4.8 tons)
5. New Zealand (3.3 tons)
6. Australia (3.0 tons)
7. France (2.9 tons)
8. Italy (2.7 tons)
9. Indonesia (2.6 tons)
10. Bhutan (2.4 tons)
11. Nepal (2.2 tons)
12. Malaysia (2.0 tons)
13. United Arab Emirates (1.5 tons)

Source: IndexBox Market Intelligence Platform