Price for Safety Pins and Other Pins; of Iron or Steel in Kenya - 2023

Contents:

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

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

The average import price for safety pins and other pins; of iron or steels stood at $4,817 per ton in 2022, growing by 25% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for safety pins and other pins; of iron or steels increased by +38.7% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 55%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Taiwan (Chinese) ($85,780 per ton), while the price for India ($2,966 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) (+55.6%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average export price for safety pins and other pins; of iron or steels stood at $17,971 per ton in 2022, increasing by 165% against the previous year. Overall, the export price saw resilient growth. The most prominent rate of growth was recorded in 2015 an increase of 650%. Over the period under review, the average export prices reached the peak figure at $25,500 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Central African Republic ($148,000 per ton), while the average price for exports to Rwanda ($1,000 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 Indonesia (+17,338.7%), 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 Kenya

In 2022, the amount of safety pins and other pins; of iron or steels imported into Kenya contracted to 75 tons, remaining stable against the previous year. In general, imports faced a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 75%.

In value terms, imports of safety pins and other pins; of iron or steels soared to $359K in 2022. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 77%.

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

1. China (27.4 tons)
2. India (19.2 tons)
3. Japan (19.0 tons)
4. Thailand (4.3 tons)
5. United Arab Emirates (0.3 tons)

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

In 2022, overseas shipments of safety pins and other pins; of iron or steels decreased by -98.7% to 35 kg for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports continue to indicate a dramatic downturn. The pace of growth was the most pronounced in 2021 with an increase of 921% against the previous year. As a result, the exports reached the peak of 2.7 tons, and then fell notably in the following year.

In value terms, exports of safety pins and other pins; of iron or steels fell notably to $629 in 2022. In general, exports faced a sharp reduction. The most prominent rate of growth was recorded in 2021 with an increase of 458%. As a result, the exports reached the peak of $18K, and then fell significantly in the following year.

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

1. Nigeria (16.0 kg)
2. Tanzania (10.0 kg)
3. Ethiopia (3.0 kg)
4. Central African Republic (2.0 kg)
5. Rwanda (1.0 kg)
6. South Sudan (1.0 kg)
7. Uganda (1.0 kg)
8. Malawi (1.0 kg)

Source: IndexBox Market Intelligence Platform