Iran: Base Metal Hook Market 2023

Base Metal Hook Market Size in Iran

The Iranian base metal hook market reduced notably to $X in 2021, waning by -18.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a prominent expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Base Metal Hook Exports

Exports from Iran

Base metal hook exports from Iran totaled X tons in 2021, leveling off at the previous year. In general, total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.8% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 63% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, base metal hook exports expanded sharply to $X in 2021. Overall, exports posted a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 60% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Ethiopia (X tons), the United Arab Emirates (X tons) and China (X kg) were the main destinations of base metal hook exports from Iran, with a combined 97% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +83.7%), while the other leaders experienced more modest paces of growth.

In value terms, Ethiopia ($X) remains the key foreign market for base metal hook exports from Iran, comprising 98% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.4% share of total exports. It was followed by China, with a 0.5% share.

From 2012 to 2021, the average annual growth rate of value to Ethiopia totaled +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-3.3% per year) and China (+43.1% per year).

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2021, increasing by 7.7% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, base metal hook export price increased by +66.5% against 2018 indices. The growth pace was the most rapid in 2019 an increase of 57% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+3.0%), while the prices for the other major destinations experienced a decline.

Base Metal Hook Imports

Imports into Iran

In 2021, approx. X tons of base metal hooks, eyes and eyelets were imported into Iran; declining by -13.9% on 2020 figures. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 559%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, base metal hook imports dropped notably to $X in 2021. Overall, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 623% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main base metal hook supplier to Iran, accounting for a approx. 97% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +13.0%.

In value terms, China ($X) constituted the largest supplier of base metal hook to Iran.

From 2012 to 2021, the average annual growth rate of value from China stood at +17.2%.

Import Prices by Country

In 2021, the average base metal hook import price amounted to $X per ton, declining by -5.6% against the previous year. Over the period under review, the import price, however, saw perceptible growth. The growth pace was the most rapid in 2018 an increase of 39% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then reduced in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +3.8% per year.

Source: IndexBox Market Intelligence Platform

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