Price for Safety Pins and Other Pins; of Iron or Steel in Singapore - 2023
Contents:
- Price for Safety Pins and Other Pins; of Iron or Steel in Singapore (FOB) - 2022
- Price for Safety Pins and Other Pins; of Iron or Steel in Singapore (CIF) - 2022
- Exports of Safety Pins and Other Pins; of Iron or Steel in Singapore
- Imports of Safety Pins and Other Pins; of Iron or Steel in Singapore
Price for Safety Pins and Other Pins; of Iron or Steel in Singapore (FOB) - 2022
The average export price for safety pins and other pins; of iron or steels stood at $50,538 per ton in 2022, rising by 60% against the previous year. Over the period under review, the export price recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by 67%. The export price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($62,499 per ton), while the average price for exports to India ($16,720 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 the Philippines (+15.9%), 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 Singapore (CIF) - 2022
In 2022, the average import price for safety pins and other pins; of iron or steels amounted to $27,053 per ton, increasing by 38% against the previous year. Overall, the import price saw a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($43,743 per ton), while the price for Malaysia ($21,975 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Safety Pins and Other Pins; of Iron or Steel in Singapore
In 2022, the amount of safety pins and other pins; of iron or steels exported from Singapore reduced sharply to 229 tons, which is down by -43.4% compared with 2021. Over the period under review, exports showed a dramatic slump. The smallest decline of -5.8% was in 2020.
In value terms, exports of safety pins and other pins; of iron or steels shrank to $12M in 2022. In general, exports continue to indicate a slight setback. The pace of growth was the most pronounced in 2021 when exports increased by 9.7% against the previous year. As a result, the exports attained the peak of $13M, and then fell in the following year.
| Export of Safety Pins and Other Pins; of Iron or Steel in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 3.5 | 4.3 | 5.0 | 3.8 | 2.8% |
| Indonesia | 2.2 | 2.5 | 3.6 | 3.5 | 16.7% |
| Philippines | 1.1 | 1.0 | 1.6 | 1.6 | 13.3% |
| China | 1.3 | 1.0 | 0.4 | 0.8 | -14.9% |
| Thailand | 1.9 | 0.9 | 0.5 | 0.4 | -40.5% |
| Taiwan (Chinese) | 0.7 | 0.7 | 0.3 | 0.3 | -24.6% |
| India | 0.1 | N/A | 0.2 | 0.2 | 26.0% |
| Hong Kong SAR | 0.3 | 0.4 | 0.5 | 0.2 | -12.6% |
| Others | 1.1 | 0.8 | 0.5 | 0.6 | -18.3% |
| Total | 12.2 | 11.6 | 12.8 | 11.6 | -1.7% |
Top Export Markets for Safety Pins and Other Pins; of Iron or Steel from Singapore in 2022:
- Malaysia (72.8 tons)
- Indonesia (62.2 tons)
- Philippines (25.7 tons)
- China (15.0 tons)
- India (13.2 tons)
- Thailand (9.1 tons)
- Taiwan (Chinese) (7.0 tons)
- Hong Kong SAR (4.6 tons)
Imports of Safety Pins and Other Pins; of Iron or Steel in Singapore
For the third year in a row, Singapore recorded decline in supplies from abroad of safety pins and other pins; of iron or steels, which decreased by -30.8% to 257 tons in 2022. In general, imports showed a sharp downturn. The smallest decline of -29.4% was in 2020.
In value terms, imports of safety pins and other pins; of iron or steels dropped modestly to $7M in 2022. Overall, imports faced a abrupt curtailment.
| Import of Safety Pins and Other Pins; of Iron or Steel in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 1.4 | 1.7 | 2.2 | 2.0 | 12.6% |
| Japan | 3.3 | 2.0 | 2.8 | 2.0 | -15.4% |
| South Korea | 0.4 | 0.7 | 0.3 | 0.9 | 31.0% |
| Malaysia | 4.3 | 3.6 | 0.9 | 0.7 | -45.4% |
| China | 0.8 | 0.8 | 0.6 | 0.6 | -9.1% |
| United States | 0.2 | 0.3 | 0.1 | 0.4 | 26.0% |
| Indonesia | 0.1 | 0.1 | 0.3 | 0.2 | 26.0% |
| Others | 0.4 | 0.4 | 0.1 | 0.2 | -20.6% |
| Total | 10.9 | 9.5 | 7.3 | 7.0 | -13.7% |
Top Suppliers of Safety Pins and Other Pins; of Iron or Steel to Singapore in 2022:
- Japan (82.0 tons)
- Taiwan (Chinese) (71.8 tons)
- Malaysia (30.4 tons)
- South Korea (26.5 tons)
- China (25.4 tons)
- United States (9.7 tons)
- Indonesia (6.0 tons)
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