Price for Chain and Parts Thereof, of Iron or Steel in Thailand - 2024
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in Thailand (CIF) - 2024
- Price for Chain and Parts Thereof, of Iron or Steel in Thailand (FOB) - 2024
- Imports of Chain and Parts Thereof, of Iron or Steel in Thailand
- Exports of Chain and Parts Thereof, of Iron or Steel in Thailand
Price for Chain and Parts Thereof, of Iron or Steel in Thailand (CIF) - 2024
The average import price for chain and parts thereof, of iron or steel stood at $4,897 per ton in January 2024, surging by 10% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2023 an increase of 18% against the previous month. As a result, import price attained the peak level of $6,085 per ton. From December 2023 to January 2024, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($12,730 per ton), while the price for China ($2,555 per ton) was amongst the lowest.
From March 2023 to January 2024, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Chain and Parts Thereof, of Iron or Steel in Thailand (FOB) - 2024
The average export price for chain and parts thereof, of iron or steel stood at $6,805 per ton in January 2024, picking up by 11% against the previous month. Overall, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $7,171 per ton in November 2023; however, from December 2023 to January 2024, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In January 2024, the country with the highest price was China ($20,170 per ton), while the average price for exports to South Korea ($967 per ton) was amongst the lowest.
From March 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Chain and Parts Thereof, of Iron or Steel in Thailand
In 2022, imports of chain and parts thereof, of iron or steel into Thailand amounted to 27K tons, growing by 5% on the previous year's figure. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +19.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in years to come.
In value terms, imports of chain and parts thereof, of iron or steel shrank to $129M in 2022. The total import value increased at an average annual rate of +7.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 42% against the previous year. As a result, imports reached the peak of $132M, and then declined slightly in the following year.
| Import of Chain and Parts Thereof, of Iron or Steel in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 29.6 | 29.9 | 47.0 | 50.0 | 19.1% |
| Japan | 45.0 | 36.4 | 53.7 | 47.0 | 1.5% |
| Malaysia | 7.8 | 5.8 | 10.4 | 10.2 | 9.4% |
| Germany | 8.1 | 6.9 | 7.5 | 7.7 | -1.7% |
| Taiwan (Chinese) | 3.6 | 3.1 | 2.7 | 2.8 | -8.0% |
| Vietnam | 0.4 | 0.7 | 0.6 | 0.5 | 7.7% |
| Others | 9.2 | 10.4 | 10.2 | 11.2 | 6.8% |
| Total | 104 | 93.2 | 132 | 129 | 7.4% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to Thailand in 2022:
- China (19.2K tons)
- Japan (3.8K tons)
- Malaysia (2.4K tons)
- Taiwan (Chinese) (0.5K tons)
- Germany (0.4K tons)
- Vietnam (0.3K tons)
Exports of Chain and Parts Thereof, of Iron or Steel in Thailand
In 2022, after three years of growth, there was decline in shipments abroad of chain and parts thereof, of iron or steel, when their volume decreased by -3.4% to 13K tons. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +12.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, the exports attained the peak of 14K tons, and then fell slightly in the following year.
In value terms, exports of chain and parts thereof, of iron or steel rose remarkably to $80M in 2022. The total export value increased at an average annual rate of +2.8% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 23%. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Chain and Parts Thereof, of Iron or Steel in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 21.6 | 15.6 | 18.2 | 19.1 | -4.0% |
| Vietnam | 9.2 | 8.6 | 9.3 | 11.6 | 8.0% |
| China | 3.1 | 4.1 | 6.8 | 11.1 | 53.0% |
| India | 9.1 | 4.8 | 5.6 | 4.8 | -19.2% |
| Cambodia | 4.0 | 3.5 | 4.6 | 4.8 | 6.3% |
| United States | 3.1 | 3.2 | 4.7 | 4.7 | 14.9% |
| Brazil | 3.2 | 2.9 | 4.5 | 4.4 | 11.2% |
| Malaysia | 3.1 | 2.6 | 2.5 | 3.2 | 1.1% |
| Japan | 1.3 | 1.3 | 2.2 | 2.0 | 15.4% |
| Philippines | 1.7 | 1.7 | 2.0 | 1.8 | 1.9% |
| Lao People's Democratic Republic | 1.2 | 1.4 | 1.3 | 1.7 | 12.3% |
| Myanmar | 3.9 | 2.2 | 2.1 | 1.7 | -24.2% |
| Turkey | 1.5 | 0.8 | 1.1 | 0.8 | -18.9% |
| Others | 8.1 | 8.7 | 10.9 | 8.8 | 2.8% |
| Total | 74.0 | 61.4 | 75.7 | 80.4 | 2.8% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from Thailand in 2022:
- Vietnam (2767.2 tons)
- Indonesia (2147.7 tons)
- United States (1673.1 tons)
- Cambodia (1425.7 tons)
- China (848.6 tons)
- Brazil (698.2 tons)
- Myanmar (492.8 tons)
- Philippines (481.6 tons)
- Japan (422.1 tons)
- India (289.6 tons)
- Malaysia (284.5 tons)
- Turkey (252.7 tons)
- Lao People's Democratic Republic (248.6 tons)
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