China - Steel Springs And Leaves For Springs - Market Analysis, Forecast, Size, Trends and Insights
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View PricingChina's Steel Spring Price Hits $2,595 per Ton As Contraction Persists for Four Months
China Steel Spring Export Price in June 2023
In June 2023, the steel spring price amounted to $2,595 per ton (FOB, China), which is down by -2.2% against the previous month. In general, the export price continues to indicate a mild slump. The pace of growth appeared the most rapid in February 2023 an increase of 23% m-o-m. The export price peaked at $3,778 per ton in October 2022; however, from November 2022 to June 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($4,947 per ton), while the average price for exports to Russia ($2,248 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+0.8%), while the prices for the other major destinations experienced a decline.
| COUNTRY | Export Price of Steel Spring in China (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | |
| Vietnam | 4,476 | 4,951 | 4,599 | 5,265 | 5,374 | 4,872 | 5,789 | 5,172 | 7,288 | 4,671 | 4,701 | 4,730 | 4,947 |
| Malaysia | 3,658 | 3,579 | 3,728 | 5,136 | 4,721 | 5,155 | 4,427 | 3,887 | 4,492 | 4,576 | 3,554 | 3,317 | 3,505 |
| Thailand | 3,225 | 2,811 | 2,414 | 3,655 | 4,801 | 2,802 | 2,650 | 2,803 | 5,141 | 4,354 | 3,105 | 2,914 | 2,587 |
| South Korea | 2,815 | 2,770 | 2,735 | 3,305 | 3,178 | 3,112 | 3,150 | 2,773 | 3,046 | 3,195 | 2,821 | 2,605 | 2,583 |
| United States | 2,677 | 2,838 | 2,650 | 3,929 | 3,816 | 3,327 | 2,537 | 2,771 | 3,046 | 2,643 | 2,568 | 2,490 | 2,467 |
| Mexico | 3,175 | 2,954 | 2,567 | 2,628 | 2,376 | 2,830 | 2,313 | 2,424 | 2,124 | 1,858 | 2,327 | 2,229 | 2,462 |
| Russia | 2,263 | 2,356 | 2,190 | 2,259 | 2,168 | 2,801 | 2,297 | 2,209 | 2,522 | 2,356 | 2,205 | 2,093 | 2,248 |
| Average | 3,114 | 3,159 | 3,162 | 3,657 | 3,778 | 3,624 | 3,128 | 2,924 | 3,594 | 2,973 | 2,803 | 2,654 | 2,595 |
China Steel Spring Export Prices by Type
There were significant differences in the average prices for the major types of exported product. In June 2023, the product with the highest price was iron or steel flat spiral or discs springs ($3,786 per ton), while the average price for exports of iron or steel leaf-springs and leaves ($1,685 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for the following types: metal hot-worked helical spring (-0.8%), while the prices for the other products experienced a decline.
China Steel Spring Exports
For the third consecutive month, China recorded decline in overseas shipments of steel springs and leaves for springs, which decreased by -1.7% to 25K tons in June 2023. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when exports increased by 88% m-o-m.
In value terms, steel spring exports shrank modestly to $66M (IndexBox estimates) in June 2023. Over the period under review, exports showed a pronounced shrinkage. The pace of growth was the most pronounced in March 2023 when exports increased by 56% m-o-m.
China Steel Spring Exports by Type
Iron or steel leaf-springs and leaves (13K tons), iron or steel hot-worked helical springs (8.1K tons) and iron or steel flat spiral or discs springs (3.9K tons) were the main products of steel spring exports from China.
From June 2022 to June 2023, the biggest increases were in metal spiral or discs spring (with a CAGR of -0.0%), while shipments for the other products experienced a decline.
In value terms, iron or steel hot-worked helical springs ($29M), iron or steel leaf-springs and leaves ($23M) and iron or steel flat spiral or discs springs ($15M) were the most exported types of steel springs and leaves for springs from China worldwide.
Metal hot-worked helical spring, with a CAGR of -1.7%, recorded the highest growth rate of the value of exports, in terms of the main product categories over the period under review, while shipments for the other products experienced a decline.
China Steel Spring Exports by Country
The United States (3.7K tons) was the main destination for steel spring exports from China, accounting for a 15% share of total exports. Moreover, steel spring exports to the United States exceeded the volume sent to the second major destination, Mexico (1.5K tons), threefold. The third position in this ranking was taken by Thailand (1.3K tons), with a 4.9% share.
From June 2022 to June 2023, the average monthly growth rate of volume to the United States stood at -3.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (+1.7% per month) and Thailand (-3.1% per month).
In value terms, the largest markets for steel spring exported from China were the United States ($9.2M), Vietnam ($5.2M) and Mexico ($3.7M), together accounting for 27% of total exports. These countries were followed by Thailand, Malaysia, Russia, Indonesia, South Korea, Australia, Poland, the United Arab Emirates, Iraq and Nigeria, which together accounted for a further 27%.
Iraq, with a CAGR of +6.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the steel spring market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
- Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
- Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
- Prodcom 25931631 - Iron or steel hot-worked helical springs
- Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
- Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
- Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
- Prodcom 25931653 - Iron or steel flat spiral springs
- Prodcom 25931655 - Iron or steel discs springs
- Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
