Decrease in UK Spades and Shovels Price to $3,912/Ton

Decrease in UK Spades and Shovels Price to $3,912/Ton

United Kingdom Spades And Shovels Import Price in March 2023

The price of spades and shovels in the United Kingdom in March 2023 was $3,912 per ton (CIF), showing a decline of -13.8% compared to the previous month. Overall, the import price remained relatively stable, with the most significant increase occurring in July 2022 at a rate of 265% month-on-month. The import price reached its peak at $4,768 per ton in December 2022, but then remained lower from January to March 2023.

Prices varied depending on the country of origin, with Vietnam having the highest price at $5,746 per ton, while India had one of the lowest prices at $2,913 per ton.

From March 2022 to March 2023, Vietnam experienced the highest rate of price growth at 5.0%, while other major suppliers saw a decline in prices.

United Kingdom Spades And Shovels Imports

In March 2023, spades and shovels imports to the UK surged to 371 tons, an increase of 15% compared to the previous month. However, overall imports showed a noticeable decrease, with the most rapid growth occurring in June 2022 at a rate of 133% month-on-month, reaching a peak of 1.6K tons. From July 2022 to March 2023, the growth of imports remained lower.

In terms of value, spades and shovels imports slightly decreased to $1.5M in March 2023, according to IndexBox estimates. Overall, imports showed a significant reduction, with the highest growth rate observed in February 2023 at 29% month-on-month.

United Kingdom Spades And Shovels Imports by Country

The main suppliers of spades and shovels imports to the UK were India (228 tons), China (127 tons), and Vietnam (11 tons), accounting for a combined 99% share of total imports.

From March 2022 to March 2023, Vietnam had the highest increase in imports with a CAGR of -1.4%, while the other leading suppliers experienced a decline.

In terms of value, the largest spades and shovels suppliers to the UK were India ($665K), China ($653K), and Vietnam ($65K), with a combined 95% share of total imports. Vietnam recorded the highest growth rate of imported value with a CAGR of +3.5% among the main suppliers, while the purchases from other leading countries decreased.



Source: IndexBox Market Intelligence Platform

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