U.S. Metal Spring Washer Imports
For the third month in a row, the United States recorded growth in supplies from abroad of iron or steel spring washers, which increased by 5.4% to 826 tons in May 2023. In general, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in April 2023 with an increase of 31% month-to-month.
In value terms, metal spring washer imports surged to $8.2M (IndexBox estimates) in May 2023. Over the period under review, imports, however, showed a slight contraction. The pace of growth appeared the most rapid in March 2023 with an increase of 21% month-to-month.
Imports by Country
China (293 tons), Germany (244 tons) and Taiwan (Chinese) (85 tons) were the main suppliers of metal spring washer imports to the United States, together accounting for 75% of total imports. Mexico, Italy, Japan and India lagged somewhat behind, together comprising a further 17%.
From May 2022 to May 2023, the biggest increases were in Mexico (with a CAGR of +0.2%), while purchases for the other leaders experienced a decline.
In value terms, Germany ($2.3M), Italy ($1.3M) and China ($928K) appeared to be the largest metal spring washer suppliers to the United States, with a combined 55% share of total imports.
In terms of the main suppliers, Italy, with a CAGR of +9.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Import Prices by Country
In May 2023, the metal spring washer price amounted to $9,875 per ton (CIF, US), surging by 14% against the previous month. Over the period from May 2022 to May 2023, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in December 2022 an increase of 29% month-to-month. Over the period under review, average import prices hit record highs at $10,457 per ton in March 2023; however, from April 2023 to May 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($34,045 per ton), while the price for China ($3,168 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Italy (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.