Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China - 2023
Contents:
- Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China (FOB) - 2023
- Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China (CIF) - 2023
- Exports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China
- Imports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China
Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China (FOB) - 2023
In December 2023, the average export price for iron or steel; non-threaded cotters and cotter-pinses amounted to $3,945 per ton, rising by 7.4% against the previous month. In general, the export price, however, saw a pronounced downturn. The growth pace was the most rapid in February 2023 an increase of 25% against the previous month. The export price peaked at $6,074 per ton in December 2022; however, from January 2023 to December 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Russia ($7,051 per ton), while the average price for exports to South Korea ($1,158 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 Russia (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China (CIF) - 2023
In December 2023, the average import price for iron or steel; non-threaded cotters and cotter-pinses amounted to $25,603 per ton, rising by 16% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +3.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($92,588 per ton), while the price for India ($7,220 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 Italy (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China
In 2022, exports of iron or steel; non-threaded cotters and cotter-pinses from China amounted to 72K tons, picking up by 9.7% compared with the year before. The total export volume increased at an average annual rate of +11.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.
In value terms, exports of iron or steel; non-threaded cotters and cotter-pinses surged to $330M in 2022. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 48%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 18.7 | 24.6 | 37.3 | 57.8 | 45.7% |
| United States | 35.4 | 30.1 | 48.2 | 56.7 | 17.0% |
| Japan | 19.0 | 17.0 | 23.9 | 20.4 | 2.4% |
| India | 4.2 | 4.9 | 8.9 | 15.3 | 53.9% |
| Malaysia | 6.0 | 5.5 | 8.9 | 12.7 | 28.4% |
| Germany | 8.2 | 7.4 | 11.6 | 12.6 | 15.4% |
| Mexico | 6.0 | 6.8 | 10.5 | 11.8 | 25.3% |
| Vietnam | 4.5 | 7.6 | 9.0 | 11.0 | 34.7% |
| Canada | 3.4 | 3.9 | 6.1 | 7.9 | 32.4% |
| Russia | 4.2 | 4.4 | 6.4 | 7.9 | 23.4% |
| Indonesia | 5.0 | 4.3 | 5.0 | 6.5 | 9.1% |
| Italy | 3.4 | 3.4 | 6.0 | 6.4 | 23.5% |
| France | 2.9 | 2.1 | 2.6 | 5.5 | 23.8% |
| Others | 57.8 | 63.5 | 89.5 | 97.6 | 19.1% |
| Total | 179 | 185 | 274 | 330 | 22.6% |
Top Export Markets for Iron or Steel; Non-Threaded Cotters and Cotter-Pins from China in 2022:
- South Korea (18.4K tons)
- United States (11.6K tons)
- Japan (5.1K tons)
- India (2.4K tons)
- Malaysia (2.4K tons)
- Vietnam (2.2K tons)
- Germany (2.2K tons)
- Indonesia (2.0K tons)
- Mexico (1.9K tons)
- Russia (1.9K tons)
- France (1.5K tons)
- Canada (1.4K tons)
- Italy (1.3K tons)
Imports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China
Imports of iron or steel; non-threaded cotters and cotter-pinses into China contracted to 14K tons in 2022, with a decrease of -8.1% compared with the previous year. The total import volume increased at an average annual rate of +1.8% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. As a result, imports attained the peak of 15K tons, and then fell in the following year.
In value terms, imports of iron or steel; non-threaded cotters and cotter-pinses shrank to $244M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 26%. As a result, imports reached the peak of $281M, and then contracted in the following year.
| Import of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 64.9 | 68.6 | 88.0 | 72.8 | 3.9% |
| Germany | 44.4 | 49.0 | 59.3 | 50.2 | 4.2% |
| United States | 33.4 | 28.6 | 37.8 | 35.9 | 2.4% |
| Italy | 8.9 | 9.4 | 13.6 | 12.8 | 12.9% |
| South Korea | 12.8 | 12.1 | 13.5 | 12.2 | -1.6% |
| Taiwan (Chinese) | 7.7 | 8.9 | 10.0 | 8.7 | 4.2% |
| United Kingdom | 10.8 | 7.8 | 8.4 | 7.4 | -11.8% |
| Czech Republic | 2.5 | 2.4 | 3.7 | 3.8 | 15.0% |
| India | 1.9 | 2.5 | 3.4 | 3.6 | 23.7% |
| Turkey | 1.0 | 1.5 | 2.3 | 2.2 | 30.1% |
| Spain | 1.7 | 1.9 | 2.4 | 2.0 | 5.6% |
| Others | 35.9 | 30.7 | 38.7 | 32.7 | -3.1% |
| Total | 226 | 223 | 281 | 244 | 2.6% |
Top Suppliers of Iron or Steel; Non-Threaded Cotters and Cotter-Pins to China in 2022:
- Japan (4.8K tons)
- Germany (2.3K tons)
- Italy (1.5K tons)
- South Korea (1.3K tons)
- United States (0.9K tons)
- Taiwan (Chinese) (0.5K tons)
- India (0.5K tons)
- Turkey (0.3K tons)
- Czech Republic (0.2K tons)
- United Kingdom (0.2K tons)
- Spain (0.2K tons)
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