Price for Cycles; Parts Thereof, Wheel Rims and Spokes in China - 2023

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in China (FOB) - 2023

In December 2023, the average export price for cycles; parts thereof, wheel rims and spokeses amounted to $5,825 per ton, growing by 13% against the previous month. Overall, the export price, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in February 2023 when the average export price increased by 50% month-to-month. As a result, the export price reached the peak level of $9,070 per ton. From March 2023 to December 2023, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was the Czech Republic ($16,193 per ton), while the average price for exports to Brazil ($1,551 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in China (CIF) - 2023

The average import price for cycles; parts thereof, wheel rims and spokeses stood at $45,981 per ton in December 2023, with a decrease of -3.7% against the previous month. Overall, import price indicated a tangible expansion from December 2022 to December 2023: its price increased at an average monthly rate of +4.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for cycles; parts thereof, wheel rims and spokeses decreased by -8.1% against October 2023 indices. The pace of growth was the most pronounced in May 2023 when the average import price increased by 98% m-o-m. As a result, import price reached the peak level of $59,538 per ton. From June 2023 to December 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($176K per ton), while the price for Taiwan (Chinese) ($36,877 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Belgium (+9.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in China

In 2022, after three years of growth, there was significant decline in shipments abroad of cycles; parts thereof, wheel rims and spokeses, when their volume decreased by -32.8% to 43K tons. Over the period under review, exports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2021 when exports increased by 25% against the previous year. As a result, the exports attained the peak of 63K tons, and then fell markedly in the following year.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses dropped to $294M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 56%. As a result, the exports reached the peak of $328M, and then declined in the following year.

Export of Cycles; Parts Thereof, Wheel Rims and Spokes in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Taiwan (Chinese)	46.2	42.7	67.9	76.9	18.5%
Poland	9.0	12.2	19.8	16.1	21.4%
Italy	5.8	7.3	13.3	13.3	31.9%
Malaysia	3.4	2.5	7.6	12.6	54.7%
Indonesia	7.8	18.5	17.7	9.8	7.9%
Japan	6.5	6.9	6.6	8.4	8.9%
India	7.4	9.1	13.2	7.3	-0.5%
Vietnam	2.2	2.4	5.8	6.8	45.7%
Brazil	7.2	7.6	10.0	6.3	-4.4%
Mexico	6.7	7.1	12.3	5.9	-4.1%
Russia	3.0	2.6	7.9	4.3	12.7%
Thailand	4.0	4.2	5.2	4.1	0.8%
Tanzania	2.5	1.8	2.2	3.3	9.7%
Others	74.4	85.8	139	119	16.9%
Total	186	211	328	294	16.5%

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from China in 2022:

Malaysia (5.4K tons)
Indonesia (2.7K tons)
Brazil (2.6K tons)
India (2.4K tons)
Mexico (2.1K tons)
Taiwan (Chinese) (1.6K tons)
Tanzania (1.5K tons)
Italy (1.3K tons)
Vietnam (1.2K tons)
Japan (1.2K tons)
Poland (1.1K tons)
Thailand (1.1K tons)
Russia (0.9K tons)

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in China

In 2022, approx. 384 tons of cycles; parts thereof, wheel rims and spokeses were imported into China; with an increase of 6.9% against the previous year's figure. The total import volume increased at an average annual rate of +6.2% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 7.7% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses surged to $11M in 2022. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 43%. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Import of Cycles; Parts Thereof, Wheel Rims and Spokes in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Taiwan (Chinese)	4.7	5.0	6.3	7.9	18.9%
Belgium	N/A	0.4	1.2	0.9	50.0%
Malaysia	0.2	0.5	0.5	0.8	58.7%
Others	1.2	0.8	1.5	1.6	10.1%
Total	6.1	6.6	9.4	11.2	22.5%