Japan's Nail and Bolt Export Surges to $214M in September 2023

Japan Nail And Bolt Exports

In September 2023, approximately 27K tons of nails, tacks, staples, screws and bolts were exported from Japan; growing by 9.9% against the month before. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when exports increased by 22% month-to-month.

In value terms, nail and bolt exports expanded markedly to $214M (IndexBox estimates) in September 2023. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 with an increase of 16% m-o-m.

Exports by Country

The United States (6.5K tons), China (5.8K tons) and Thailand (4K tons) were the main destinations of nail and bolt exports from Japan, together accounting for 60% of total exports. These countries were followed by Indonesia, India, Mexico and Brazil, which together accounted for a further 20%.

From September 2022 to September 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +2.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($52M), China ($42M) and Thailand ($28M) constituted the largest markets for nail and bolt exported from Japan worldwide, with a combined 57% share of total exports. Indonesia, India, Mexico and Brazil lagged somewhat behind, together accounting for a further 19%.

Among the main countries of destination, India, with a CAGR of +2.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel (27K tons) was the largest type of nail and bolt exported from Japan, accounting for a 99% share of total exports. It was followed by nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper (97 tons), with a 0.4% share of total exports. Nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (79 tons) ranked third in terms of total exports with a 0.3% share.

From September 2022 to September 2023, the average monthly growth rate of the volume of export of screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper (+1.6% per month) and nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (-3.9% per month).

In value terms, screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel ($210M) remains the largest type of nail and bolt exported from Japan, comprising 98% of total exports. The second position in the ranking was taken by nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper ($2.2M), with a 1% share of total exports. It was followed by aluminium; nails, tacks, staples (other than those of heading no. 8305) screws, bolts, nuts, screw hooks, rivets, cotters, cotter-pins, washers and similar articles, with a 0.8% share.

From September 2022 to September 2023, the average monthly growth rate of the export volume of screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper (+0.6% per month) and aluminium; nails, tacks, staples (other than those of heading no. 8305) screws, bolts, nuts, screw hooks, rivets, cotters, cotter-pins, washers and similar articles (+0.5% per month).

Export Prices by Country

In September 2023, the nail and bolt price stood at $7,838 per ton (FOB, Japan), leveling off at the previous month. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 6.2% against the previous month. As a result, the export price reached the peak level of $8,769 per ton. From February 2023 to September 2023, the the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In September 2023, the countries with the highest prices were Brazil ($8,220 per ton) and Mexico ($8,040 per ton), while the average price for exports to Malaysia ($6,036 per ton) and the UK ($6,575 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform