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

Contents:

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

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

The average import price for safety pins and other pins; of iron or steels stood at $6,068 per ton in May 2024, shrinking by -2.4% against the previous month. Overall, the import price, however, showed a modest expansion. The growth pace was the most rapid in January 2024 an increase of 204% against the previous month. As a result, import price attained the peak level of $12,202 per ton. From February 2024 to May 2024, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From May 2023 to May 2024, the rate of growth in terms of prices for China amounted to +2.5% per month.

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

The average export price for safety pins and other pins; of iron or steels stood at $4,822 per ton in 2022, dropping by -27.9% against the previous year. Over the period under review, the export price recorded a noticeable downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 26%. The export price peaked at $9,397 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($31,018 per ton), while the average price for exports to Indonesia ($4,025 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 China (+20.9%), while the prices for the other major destinations experienced mixed trend patterns.

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

In 2022, after two years of decline, there was significant growth in overseas purchases of safety pins and other pins; of iron or steels, when their volume increased by 16% to 140 tons. Over the period under review, imports, however, saw a deep reduction.

In value terms, imports of safety pins and other pins; of iron or steels reduced notably to $608K in 2022. In general, imports, however, showed a abrupt setback. The smallest decline of -1.3% was in 2021.

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

1. China (133.2 tons)
2. Malaysia (5.1 tons)
3. Japan (0.5 tons)

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

Exports of safety pins and other pins; of iron or steels from Thailand soared to 108 tons in 2022, jumping by 62% compared with the year before. Over the period under review, exports showed a significant increase. As a result, the exports attained 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 $521K in 2022. In general, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +14.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the near future.

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

1. Indonesia (103.8 tons)
2. Lao People's Democratic Republic (0.7 tons)
3. China (0.7 tons)

Source: IndexBox Market Intelligence Platform