Price for Chain and Parts Thereof, of Iron or Steel in the United States - 2024
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in the United States (CIF) - 2024
- Price for Chain and Parts Thereof, of Iron or Steel in the United States (FOB) - 2024
- Imports of Chain and Parts Thereof, of Iron or Steel in the United States
- Exports of Chain and Parts Thereof, of Iron or Steel in the United States
Price for Chain and Parts Thereof, of Iron or Steel in the United States (CIF) - 2024
The average import price for chain and parts thereof, of iron or steel stood at $4,731 per ton in December 2023, stabilizing at the previous month. In general, the import price showed a mild descent. The most prominent rate of growth was recorded in May 2023 an increase of 5.6% month-to-month. Over the period under review, average import prices reached the maximum at $5,640 per ton in March 2023; however, from April 2023 to December 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Japan ($12,237 per ton), while the price for China ($2,405 per ton) was amongst the lowest.
From March 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Japan (-0.1%), while the prices for the other major suppliers experienced a decline.
Price for Chain and Parts Thereof, of Iron or Steel in the United States (FOB) - 2024
In December 2023, the average export price for chain and parts thereof, of iron or steel amounted to $7,498 per ton, dropping by -10% against the previous month. Overall, the export price recorded a mild setback. The most prominent rate of growth was recorded in September 2023 an increase of 4.3% m-o-m. As a result, the export price attained the peak level of $8,455 per ton. From October 2023 to December 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Japan ($12,557 per ton), while the average price for exports to Ecuador ($3,806 per ton) was amongst the lowest.
From March 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+3.3%), 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 the United States
Imports of chain and parts thereof, of iron or steel into the United States skyrocketed to 178K tons in 2022, rising by 24% compared with the previous year. The total import volume increased at an average annual rate of +7.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of chain and parts thereof, of iron or steel soared to $840M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +8.8% 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 +51.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Chain and Parts Thereof, of Iron or Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 225 | 188 | 224 | 319 | 12.3% |
| Germany | 111 | 84.5 | 98.2 | 113 | 0.6% |
| Japan | 103 | 82.7 | 104 | 112 | 2.8% |
| Taiwan (Chinese) | 37.9 | 38.5 | 42.7 | 62.1 | 17.9% |
| Canada | 18.2 | 14.2 | 19.0 | 27.9 | 15.3% |
| Austria | 20.8 | 15.0 | 19.0 | 22.3 | 2.3% |
| India | 16.3 | 10.3 | 15.4 | 16.9 | 1.2% |
| Spain | 0.9 | 17.2 | 1.8 | 9.8 | 121.6% |
| Others | 119 | 106 | 130 | 157 | 9.7% |
| Total | 652 | 556 | 655 | 840 | 8.8% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to the United States in 2022:
- China (118.3K tons)
- Germany (10.7K tons)
- Taiwan (Chinese) (9.2K tons)
- Japan (8.6K tons)
- India (3.8K tons)
- Canada (3.6K tons)
- Spain (3.4K tons)
- Austria (3.0K tons)
Exports of Chain and Parts Thereof, of Iron or Steel in the United States
Exports of chain and parts thereof, of iron or steel from the United States rose remarkably to 48K tons in 2022, surging by 10% against 2021. The total export volume increased at an average annual rate of +1.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of chain and parts thereof, of iron or steel skyrocketed to $408M in 2022. The total export value increased at an average annual rate of +3.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Chain and Parts Thereof, of Iron or Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 132 | 103 | 108 | 133 | 0.3% |
| Canada | 104 | 95.6 | 105 | 126 | 6.6% |
| Australia | 15.0 | 15.3 | 14.5 | 18.3 | 6.9% |
| Brazil | 7.9 | 8.0 | 11.5 | 14.2 | 21.6% |
| China | 9.3 | 9.9 | 9.5 | 11.8 | 8.3% |
| Colombia | 6.9 | 5.9 | 12.5 | 11.3 | 17.9% |
| Japan | 11.7 | 9.3 | 9.3 | 11.1 | -1.7% |
| South Korea | 5.1 | 10.5 | 9.8 | 9.3 | 22.2% |
| United Kingdom | 15.7 | 7.6 | 6.7 | 8.5 | -18.5% |
| Chile | 5.6 | 3.8 | 4.9 | 5.7 | 0.6% |
| Trinidad and Tobago | 0.5 | 9.8 | 1.7 | 0.7 | 11.9% |
| Others | 59.0 | 46.6 | 54.6 | 57.4 | -0.9% |
| Total | 373 | 326 | 348 | 408 | 3.0% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from the United States in 2022:
- Canada (15.9K tons)
- Mexico (14.2K tons)
- Australia (1.8K tons)
- Brazil (1.6K tons)
- China (1.3K tons)
- Colombia (1.2K tons)
- South Korea (1.2K tons)
- United Kingdom (1.0K tons)
- Japan (0.9K tons)
- Chile (0.8K tons)
- Trinidad and Tobago (0.1K tons)
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