China: Market for Welded Link Chain Of Iron Or Steel 2024

Market Size for Welded Link Chain Of Iron Or Steel in China

In 2021, the Chinese metal welded link chain market decreased by -8.8% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption showed a mild curtailment. Metal welded link chain consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Welded Link Chain Of Iron Or Steel in China

In value terms, metal welded link chain production expanded to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Welded Link Chain Of Iron Or Steel

Exports from China

In 2021, shipments abroad of welded link chain of iron or steel was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 31% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, metal welded link chain exports soared to $X in 2021. In general, exports continue to indicate a slight expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for metal welded link chain exports from China, with a 21% share of total exports. Moreover, metal welded link chain exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), threefold. Australia (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.7% per year) and Australia (+2.4% per year).

In value terms, the United States ($X) remains the key foreign market for welded link chain of iron or steel exports from China, comprising 21% of total exports. The second position in the ranking was held by Canada ($X), with a 6.6% share of total exports. It was followed by Australia, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.9% per year) and Australia (+2.6% per year).

Export Prices by Country

The average metal welded link chain export price stood at $X per ton in 2021, jumping by 16% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Welded Link Chain Of Iron Or Steel

Imports into China

In 2021, overseas purchases of welded link chain of iron or steel decreased by -42.8% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, recorded temperate growth. The most prominent rate of growth was recorded in 2017 when imports increased by 79% against the previous year. Imports peaked at X tons in 2020, and then fell dramatically in the following year.

In value terms, metal welded link chain imports reduced sharply to $X in 2021. Overall, imports, however, showed moderate growth. The pace of growth was the most pronounced in 2017 with an increase of 72% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then declined significantly in the following year.

Imports by Country

In 2021, Germany (X tons) constituted the largest metal welded link chain supplier to China, accounting for a 83% share of total imports. Moreover, metal welded link chain imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+35.9% per year) and Japan (-9.5% per year).

In value terms, Germany ($X) constituted the largest supplier of welded link chain of iron or steel to China, comprising 85% of total imports. The second position in the ranking was held by Poland ($X), with a 9.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+31.6% per year) and Japan (-9.6% per year).

Import Prices by Country

In 2021, the average metal welded link chain import price amounted to $X per ton, growing by 13% against the previous year. Overall, the import price saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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