Import of U.S. Cutting Blades Decreases by 5% to $37M in Feb 2023
U.S. Cutting Blade Imports
In February 2023, approximately 1.2K tons of knives and cutting blades (for machines or for mechanical appliances) were imported into the United States; dropping by -20.6% against the previous month’s figure. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 with an increase of 39% against the previous month.
In value terms, cutting blade imports declined modestly to $37M (IndexBox estimates) in February 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in March 2022 with an increase of 32% m-o-m. As a result, imports reached the peak of $49M. From April 2022 to February 2023, the growth of imports remained at a lower figure.
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Imports by Country
China (274 tons), France (183 tons) and Japan (154 tons) were the main suppliers of cutting blade imports to the United States, together accounting for 52% of total imports. Germany, Vietnam, Taiwan (Chinese), South Korea, Mexico, Austria, Sweden, Switzerland, India and Canada lagged somewhat behind, together accounting for a further 39%.
From February 2022 to February 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Germany ($7.7M) constituted the largest supplier of cutting blade to the United States, comprising 21% of total imports. The second position in the ranking was held by China ($3.5M), with a 9.4% share of total imports. It was followed by Japan, with an 8.5% share.
From February 2022 to February 2023, the average monthly rate of growth in terms of value from Germany amounted to +1.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-3.5% per month) and Japan (-3.2% per month).
Import Prices by Country
In February 2023, the cutting blade price stood at $31,762 per ton (CIF, US), rising by 20% against the previous month. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($114K per ton), while the price for France ($6,849 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by India (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.
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