Import of Vulcanised Rubber Thread to Canada Plummets to $119K in June 2023

Import of Vulcanised Rubber Thread to Canada Plummets to $119K in June 2023

Canada Vulcanised Rubber Thread Imports

Overseas purchases of vulcanised rubber thread and cord in Canada experienced a significant decline of -63.6% to 28 tons in June 2023, following two months of growth. This reduction in imports was most pronounced in April 2023, with a staggering increase of 327% compared to the previous month.

The import value of vulcanised rubber thread also saw a remarkable reduction, plummeting to $119K in June 2023, according to IndexBox estimates. Overall, the import market continues to indicate a drastic downturn, although it experienced a notable growth rate of 76% in August 2022.

Canada Vulcanised Rubber Thread Imports By Country (USD)

Imports by Country

Main suppliers of vulcanised rubber thread imports to Canada were China (16 tons), the United States (9.4 tons), and Thailand (2.1 tons), which accounted for a combined 97% share of total imports.

From June 2022 to June 2023, China experienced the largest increase (CAGR of +1.5%) in imports, while other leading suppliers witnessed a decline.

The United States ($56K), China ($37K), and Thailand ($9K) were the largest vulcanised rubber thread suppliers to Canada in terms of value, with a combined 85% share of total imports.

China exhibited the highest rates of growth in import value among the main suppliers, with a CAGR of -1.9%, while other leading suppliers experienced a decline.

Import Prices by Country

In June 2023, the import price of vulcanised rubber thread in Canada stood at $4,277 per ton (CIF), reflecting a 16% increase compared to the previous month. The import price has been showing a moderate expansion in general, with the most prominent rate of growth recorded in March 2023, representing a 235% increase. The import price reached its peak level at $9,332 per ton but failed to regain momentum from April 2023 to June 2023.

Import prices varied significantly based on the country of origin, with the United States having the highest price ($5,947 per ton) and China having one of the lowest prices ($2,373 per ton).

Between June 2022 and June 2023, the United States witnessed the most notable price growth (+11.9%), while prices for other major suppliers experienced mixed trend patterns.



Source: IndexBox Market Intelligence Platform

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