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

Price for Safety Pins and Other Pins; of Iron or Steel in Japan (FOB) - 2024

In April 2024, the average export price for safety pins and other pins; of iron or steels amounted to $1,077 per ton, dropping by -13.3% against the previous month. Over the period under review, the export price showed a mild slump. The most prominent rate of growth was recorded in September 2023 when the average export price increased by 24% against the previous month. Over the period under review, the average export prices reached the peak figure at $1,432 per ton in December 2023; however, from January 2024 to April 2024, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In April 2024, the country with the highest price was China ($1,779 per ton), while the average price for exports to Thailand ($577 per ton) was amongst the lowest.

From April 2023 to April 2024, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-0.1%), while the prices for the other major destinations experienced a decline.

Price for Safety Pins and Other Pins; of Iron or Steel in Japan (CIF) - 2024

The average import price for safety pins and other pins; of iron or steels stood at $2,225 per ton in April 2024, picking up by 67% against the previous month. In general, import price indicated a pronounced expansion from April 2023 to April 2024: its price increased at an average monthly rate of +3.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2024 figures, import price for safety pins and other pins; of iron or steels increased by +34.3% against December 2023 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In April 2024, the country with the highest price was China ($1,208 per ton), while the price for Vietnam ($577 per ton) was amongst the lowest.

From April 2023 to April 2024, the most notable rate of growth in terms of prices was attained by South Korea (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

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

In 2022, the amount of safety pins and other pins; of iron or steels exported from Japan dropped sharply to 895 tons, which is down by -17.7% against 2021 figures. The total export volume increased at an average annual rate of +3.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 43% against the previous year. As a result, the exports reached the peak of 1.1K tons, and then shrank sharply in the following year.

In value terms, exports of safety pins and other pins; of iron or steels dropped dramatically to $13M in 2022. In general, exports showed a slight curtailment. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. As a result, the exports attained the peak of $18M, and then shrank notably in the following year.

Export of Safety Pins and Other Pins; of Iron or Steel in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3.4	4.3	4.5	3.9	4.7%
China	2.1	2.8	4.9	3.1	13.9%
Thailand	2.3	2.0	2.6	2.3	0.0%
Philippines	2.2	1.7	2.0	0.5	-39.0%
India	0.8	0.3	0.4	0.5	-14.5%
Indonesia	0.3	0.2	0.2	0.3	0.0%
Mexico	0.3	0.3	0.4	0.2	-12.6%
South Korea	0.2	0.3	0.4	0.2	0.0%
Others	2.5	2.4	2.9	2.3	-2.7%
Total	14.1	14.2	18.4	13.3	-1.9%

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

United States (360.3 tons)
Thailand (289.7 tons)
China (120.0 tons)
Mexico (23.0 tons)
India (19.7 tons)
Indonesia (17.2 tons)
Philippines (13.6 tons)
South Korea (8.4 tons)

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

Imports of safety pins and other pins; of iron or steels into Japan fell remarkably to 216 tons in 2022, reducing by -17.7% on 2021. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 6.3% against the previous year.

In value terms, imports of safety pins and other pins; of iron or steels soared to $2.2M in 2022. Over the period under review, imports continue to indicate a noticeable slump.

Import of Safety Pins and Other Pins; of Iron or Steel in Japan (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,510	1,315	1,300	1,214	-7.0%
Vietnam	474	351	253	462	-0.9%
United States	142	56.3	53.7	345	34.4%
South Korea	177	101	130	56.5	-31.7%
Taiwan (Chinese)	42.7	40.5	22.7	50.5	5.8%
Others	223	128	95.2	114	-20.0%
Total	2,569	1,992	1,856	2,242	-4.4%