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

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

The average import price for safety pins and other pins; of iron or steels stood at $8,890 per ton in 2022, shrinking by -33.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 41% against the previous year. As a result, import price attained the peak level of $13,446 per ton, and then declined significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($16,370 per ton), while the price for Finland ($2,306 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+33.2%), 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 Malaysia (FOB) - 2022

The average export price for safety pins and other pins; of iron or steels stood at $11,420 per ton in 2022, with an increase of 17% against the previous year. Over the period under review, export price indicated measured growth from 2013 to 2022: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for safety pins and other pins; of iron or steels decreased by -1.2% against 2020 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 27% against the previous year. As a result, the export price attained the peak level of $11,555 per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($20,249 per ton), while the average price for exports to China ($6,352 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 Singapore (+13.2%), 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 Malaysia

In 2022, supplies from abroad of safety pins and other pins; of iron or steels was finally on the rise to reach 1.3K tons after two years of decline. In general, imports showed a relatively flat trend pattern. As a result, imports attained 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 stood at $11M in 2022. The total import value increased at an average annual rate of +5.8% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 11% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Import of Safety Pins and Other Pins; of Iron or Steel in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Taiwan (Chinese)	0.3	0.5	1.9	2.9	113.0%
China	1.1	1.8	2.0	2.4	29.7%
Singapore	4.0	3.2	3.2	1.4	-29.5%
Japan	2.2	1.6	1.5	1.2	-18.3%
Finland	0.1	0.6	N/A	1.1	122.4%
Thailand	0.2	0.4	0.4	0.7	51.8%
Hong Kong SAR	0.3	0.4	0.2	0.2	-12.6%
United Kingdom	0.2	N/A	N/A	0.1	-20.6%
Others	1.3	1.3	1.6	1.3	0.0%
Total	9.6	9.8	10.9	11.4	5.9%

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

Finland (487.1 tons)
China (188.6 tons)
Taiwan (Chinese) (179.2 tons)
Japan (109.2 tons)
Singapore (98.6 tons)
Thailand (69.8 tons)
Hong Kong SAR (53.3 tons)
United Kingdom (7.6 tons)

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

Exports of safety pins and other pins; of iron or steels from Malaysia declined significantly to 549 tons in 2022, waning by -26.3% compared with the previous year. Over the period under review, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 4.4% against the previous year.

In value terms, exports of safety pins and other pins; of iron or steels declined to $6.3M in 2022. In general, exports continue to indicate a abrupt curtailment. The smallest decline of -10% was in 2020.

Export of Safety Pins and Other Pins; of Iron or Steel in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	4.2	3.6	2.9	2.7	-13.7%
Germany	0.6	0.3	0.2	1.0	18.6%
Singapore	0.5	0.8	1.0	0.8	17.0%
Thailand	1.7	1.6	1.6	0.4	-38.3%
Hong Kong SAR	0.4	0.3	0.3	0.4	0.0%
Indonesia	N/A	0.2	0.2	0.2	0.0%
China	0.9	0.9	0.5	0.2	-39.4%
Others	0.9	0.6	0.6	0.4	-23.7%
Total	9.2	8.2	7.2	6.3	-11.9%