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

Contents:

1. Price for Safety Pins and Other Pins; of Iron or Steel in South Africa (CIF) - 2024
2. Price for Safety Pins and Other Pins; of Iron or Steel in South Africa (FOB) - 2022
3. Imports of Safety Pins and Other Pins; of Iron or Steel in South Africa
4. Exports of Safety Pins and Other Pins; of Iron or Steel in South Africa

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

In April 2024, the average import price for safety pins and other pins; of iron or steels amounted to $1,137 per ton, increasing by 50% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2023 an increase of 92% m-o-m. Over the period under review, average import prices hit record highs at $1,423 per ton in August 2023; however, from September 2023 to April 2024, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In April 2024, the country with the highest price was Thailand ($1,477 per ton), while the price for China ($417 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 China (+0.1%), while the prices for the other major suppliers experienced a decline.

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

The average export price for safety pins and other pins; of iron or steels stood at $11,092 per ton in 2022, waning by -5.2% against the previous year. In general, the export price, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 127%. Over the period under review, the average export prices reached the maximum at $14,543 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zimbabwe ($25,006 per ton), while the average price for exports to Saudi Arabia ($1,624 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 Botswana (+2.5%), 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 South Africa

In 2022, imports of safety pins and other pins; of iron or steels into South Africa amounted to 223 tons, leveling off at the previous year's figure. Overall, imports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of 18%.

In value terms, imports of safety pins and other pins; of iron or steels fell rapidly to $2.3M in 2022. In general, imports, however, continue to indicate a mild decrease. The growth pace was the most rapid in 2021 when imports increased by 39%. As a result, imports attained the peak of $2.7M, and then fell significantly in the following year.

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

1. China (99.6 tons)
2. Thailand (96.8 tons)
3. Japan (22.0 tons)

Exports of Safety Pins and Other Pins; of Iron or Steel in South Africa

For the fourth year in a row, South Africa recorded growth in overseas shipments of safety pins and other pins; of iron or steels, which increased by 47% to 45 tons in 2022. Over the period under review, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of safety pins and other pins; of iron or steels skyrocketed to $495K in 2022. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 50%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

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

1. Mozambique (11.0 tons)
2. Zimbabwe (10.9 tons)
3. Botswana (4.6 tons)
4. Lesotho (4.4 tons)
5. Saudi Arabia (4.0 tons)
6. Madagascar (1.9 tons)
7. Namibia (1.9 tons)
8. Swaziland (1.7 tons)
9. Kenya (1.0 tons)
10. Zambia (1.0 tons)

Source: IndexBox Market Intelligence Platform