Price for Safety Pins and Other Pins; of Iron or Steel in the United Arab Emirates - 2022

Contents:

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

Price for Safety Pins and Other Pins; of Iron or Steel in the United Arab Emirates (CIF) - 2022

In 2022, the average import price for safety pins and other pins; of iron or steels amounted to $5,060 per ton, jumping by 43% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 +54.2% against 2020 indices. The import price peaked at $5,846 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 Japan ($67,626 per ton), while the price for Saudi Arabia ($832 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.3%), 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 the United Arab Emirates (FOB) - 2022

The average export price for safety pins and other pins; of iron or steels stood at $5,755 per ton in 2022, growing by 43% against the previous year. Overall, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of 53%. The export price peaked in 2022 and is expected to retain growth in the near future.

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 Sri Lanka ($11,134 per ton), while the average price for exports to Burundi ($965 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 Oman (+12.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Safety Pins and Other Pins; of Iron or Steel in the United Arab Emirates

In 2022, overseas purchases of safety pins and other pins; of iron or steels decreased by -5.8% to 259 tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +11.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 40%.

In value terms, imports of safety pins and other pins; of iron or steels surged to $1.3M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Safety Pins and Other Pins; of Iron or Steel to the United Arab Emirates in 2022:

1. Saudi Arabia (139.1 tons)
2. China (82.9 tons)
3. Taiwan (Chinese) (14.5 tons)
4. India (6.2 tons)
5. United States (3.6 tons)

Exports of Safety Pins and Other Pins; of Iron or Steel in the United Arab Emirates

In 2022, shipments abroad of safety pins and other pins; of iron or steels decreased by -62.7% to 62 tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a sharp shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 53%. As a result, the exports reached the peak of 217 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of safety pins and other pins; of iron or steels contracted notably to $355K in 2022. In general, exports showed a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. As a result, the exports attained the peak of $679K. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Safety Pins and Other Pins; of Iron or Steel from the United Arab Emirates in 2022:

1. Saudi Arabia (17.6 tons)
2. Kuwait (9.3 tons)
3. Qatar (7.0 tons)
4. Lebanon (3.8 tons)
5. India (2.6 tons)
6. Iraq (2.5 tons)
7. Bahrain (1.9 tons)
8. Oman (1.9 tons)
9. Ghana (1.8 tons)
10. Iran (1.7 tons)
11. Sri Lanka (1.5 tons)
12. Burundi (1.1 tons)
13. Zambia (0.7 tons)

Source: IndexBox Market Intelligence Platform