August 2023 Sees a 66% Surge in Iron and Steel Forging Imports to $10M in the United States

August 2023 Sees a 66% Surge in Iron and Steel Forging Imports to $10M in the United States

U.S. Iron And Steel Forging Imports

In August 2023, around 2 million units of iron and steel forging were imported into the United States, experiencing a 70% increase compared to the previous month. The total imports showed a noticeable rise from August 2022 to August 2023, with an average monthly growth rate of 2.1% over the past year. However, there were some fluctuations recorded throughout the analyzed period. Based on the August 2023 figures, imports witnessed a 70.0% increase compared to July 2023 indices. Although imports reached a peak of 2.2 million units in September 2022, they remained at slightly lower levels from October 2022 to August 2023.

In terms of value, iron and steel forging imports surged to $10 million in August 2023, according to IndexBox estimates. The total imports displayed a significant increase from August 2022 to August 2023, with an average monthly growth rate of 2.1% over the past year. However, there were some noticeable fluctuations recorded throughout the analyzed period. Based on August 2023 figures, imports soared by 65.6% compared to July 2023 indices, reaching a peak and expected to continue growing in the near future.U.S. Iron And Steel Forging Imports By Country (Thousand USD)

Imports by Country

India (804K units), China (410K units), and Canada (269K units) were the primary suppliers of iron and steel forging imports to the United States, accounting for a combined 75% share of total imports.

Between August 2022 and August 2023, India witnessed the highest increase with a CAGR of +11.8%, while the other leading suppliers experienced more moderate growth rates.

In terms of value, India ($4 million), China ($2.1 million), and Canada ($1.4 million) were the top iron and steel forging suppliers to the United States, constituting a combined 75% share of total imports.

India showed the highest growth rate in the value of imports with a CAGR of +11.8% among the main suppliers during the review period, while the other leading countries experienced more modest growth rates.

Import Prices by Country

In August 2023, the price of iron and steel forging stood at $5.0 per unit (CIF, US), representing a decrease of 2.5% compared to the previous month. The import price showed a relatively stable trend pattern over the review period. The most significant growth rate occurred in October 2022 with a 13% month-on-month increase. However, from January 2023 to August 2023, import prices were unable to regain momentum after reaching a peak of $5.4 per unit in December 2022.

Average prices varied notably among the major supplying countries. In August 2023, Italy ($5.6 per unit) and Canada ($5.2 per unit) had the highest prices, while Mexico ($4.9 per unit) and India ($4.9 per unit) had relatively lower prices.

Between August 2022 and August 2023, Italy experienced the most significant price growth with an increase of 0.8%, while the other major suppliers had more modest growth rates.

Source: IndexBox Market Intelligence Platform

Comments

Post a Comment

Popular posts from this blog

China's Import of Diethanolamine Decreases Slightly to $4.8 Million in June 2023

Image
China Diethanolamine Imports In June 2023, China imported approximately 5.5K tons of diethanolamine and its salts, marking a 14.3% decline compared to the previous month. Overall, imports showed a relatively steady trend. The highest growth rate occurred in May 2023, with a 475% month-to-month increase. In terms of value, diethanolamine imports in June 2023 reached $4.8M according to IndexBox estimates. Imports continued to contract during the review period. The most rapid growth rate occurred in May 2023, with a 486% increase compared to the previous month. Imports by Country In June 2023, Saudi Arabia was the largest supplier of diethanolamine to China, accounting for 72% of total imports with 4K tons. Malaysia, the second-largest supplier, only provided 552 tons, a sevenfold difference compared to Saudi Arabia. Between June 2022 and June 2023, the average monthly growth rate of volume from Saudi Arabia was relatively modest. In terms of value, Saudi Arabia constituted 72% of total i
Read more

Maleic Anhydride Imports in Turkey Experience a Significant 36% Decrease in July 2023, Totaling $4M

Image
In July 2023, the volume of maleic anhydride imports in Turkey declined by 32.1% to 3.9K tons, marking the second consecutive month of decline after three months of growth. However, overall imports showed a noticeable expansion, with the most rapid growth recorded in August 2022 at a 140% increase compared to the previous month. In terms of value, maleic anhydride imports saw a significant drop to $4M in July 2023, according to estimates from IndexBox. Imports experienced a pronounced shrinkage during the review period, with the most pronounced growth occurring in August 2022, reaching a peak of $12M. From September 2022 to July 2023, import growth remained at a slightly lower figure. Russia, China, and South Korea were the main suppliers of maleic anhydride imports to Turkey, accounting for a combined 91% share of total imports. During the period from July 2022 to July 2023, Russia experienced the highest growth rate in terms of volume, with a CAGR of +24.0%, while other leading sup
Read more

Top Countries for Importing Chocolate and Confectionery Products Worldwide

Image
Chocolate and confectionery products have always been beloved treats across the globe due to their delicious flavors and indulgent qualities. As a result, the chocolate and confectionery industry has become a thriving sector, with many countries involved in the import and export of these delightful treats. In this article, we will discuss the leading import markets for chocolate and confectionery products worldwide, supported by data and statistics from the IndexBox market report. 1. United States The United States holds the top spot as the largest import market for chocolate and confectionery products with an impressive import value of $10.366 billion in 2022. The American population's deep love for sweets makes it a highly sought-after destination for confectionery imports. With a wide range of options available, from artisanal chocolates to iconic candy brands, the U.S. market caters to the diverse preferences of chocolate and confectionery enthusiasts. The country's large c
Read more