Cuba: Base Metal Hook Market 2023

Base Metal Hook Market Size in Cuba

In 2021, the Cuban base metal hook market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, faced a abrupt decline. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Base Metal Hook Exports

Exports from Cuba

In 2014, exports of base metal hooks, eyes and eyelets from Cuba declined significantly to X kg, which is down by -36.4% compared with 2013. Over the period under review, exports showed a precipitous curtailment. Over the period under review, the exports attained the peak figure at X kg in 2013, and then declined notably in the following year.

In value terms, base metal hook exports surged to $X in 2014. Overall, total exports indicated a significant increase from 2013 to 2014: its value increased at an average annual rate of +48.1% over the last one years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X kg) was the main destination for base metal hook exports from Cuba, accounting for a approx. 100% share of total exports.

From 2013 to 2014, the average annual rate of growth in terms of volume to Germany was relatively modest.

In value terms, Germany ($X) emerged as the key foreign market for base metal hook exports from Cuba.

From 2013 to 2014, the average annual rate of growth in terms of value to Germany was relatively modest.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2014, growing by 133% against the previous year. In general, the export price saw a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2013 to 2014, the rate of growth in terms of prices for the Netherlands amounted to 0.0% per year.

Base Metal Hook Imports

Imports into Cuba

After two years of decline, overseas purchases of base metal hooks, eyes and eyelets increased by 17% to X tons in 2021. In general, imports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 189% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, base metal hook imports surged to $X in 2021. Overall, imports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2018 when imports increased by 282%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of base metal hook to Cuba, with a 82% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. Canada (X kg) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-5.7% per year) and Canada (+558.9% per year).

In value terms, China ($X) constituted the largest supplier of base metal hook to Cuba, comprising 70% of total imports. The second position in the ranking was taken by Spain ($X), with a 25% share of total imports. It was followed by Canada, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-13.1% per year) and Canada (+453.6% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, rising by 42% against the previous year. Overall, the import price, however, saw a slight downturn. The most prominent rate of growth was recorded in 2015 an increase of 52%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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