Price of Metal Household Furniture in the U.S. Drops by 3% to $3,548 per Ton
U.S. Metal Household Furniture Import Price in June 2023
In June 2023, the metal household furniture price stood at $3,548 per ton (CIF, US), falling by -3.2% against the previous month. Over the period under review, the import price showed a slight slump. The growth pace was the most rapid in January 2023 an increase of 10% m-o-m. The import price peaked at $4,286 per ton in February 2023; however, from March 2023 to June 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($8,323 per ton), while the price for China ($2,520 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by India (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.
U.S. Metal Household Furniture Imports
In June 2023, approximately 95K tons of metal household furniture were imported into the United States; reducing by -3.6% on the month before. Overall, imports showed a pronounced decrease. The growth pace was the most rapid in November 2022 with an increase of 14% m-o-m.
In value terms, metal household furniture imports dropped to $336M (IndexBox estimates) in June 2023. In general, imports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in November 2022 when imports increased by 13% month-to-month.
U.S. Metal Household Furniture Imports by Country
In June 2023, China (64K tons) constituted the largest supplier of metal household furniture to the United States, with a 68% share of total imports. Moreover, metal household furniture imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (11K tons), sixfold. Taiwan (Chinese) (9.8K tons) ranked third in terms of total imports with a 10% share.
From June 2022 to June 2023, the average monthly rate of growth in terms of volume from China totaled -3.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (-0.7% per month) and Taiwan (Chinese) (+7.4% per month).
In value terms, China ($161M) constituted the largest supplier of metal household furniture to the United States, comprising 48% of total imports. The second position in the ranking was held by Vietnam ($60M), with an 18% share of total imports. It was followed by Taiwan (Chinese), with a 9.2% share.
From June 2022 to June 2023, the average monthly growth rate of value from China amounted to -5.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (-2.1% per month) and Taiwan (Chinese) (+5.9% per month).
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