U.S. Prisms and Mirrors Export Soars to $109M in March 2023
U.S. Prisms And Mirrors Exports
For the third month in a row, the United States recorded growth in overseas shipments of prisms and mirrors, which increased by 31% to 338 tons in March 2023. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in October 2022 when exports increased by 42% month-to-month. The exports peaked in March 2023.
In value terms, prisms and mirrors exports soared to $109M (IndexBox estimates) in March 2023. In general, exports, however, saw a noticeable downturn.
Exports by Country
South Korea (149 tons) was the main destination for prisms and mirrors exports from the United States, accounting for a 44% share of total exports. Moreover, prisms and mirrors exports to South Korea exceeded the volume sent to the second major destination, China (64 tons), twofold. Taiwan (Chinese) (28 tons) ranked third in terms of total exports with an 8.3% share.
From March 2022 to March 2023, the average monthly rate of growth in terms of volume to South Korea totaled +3.3%. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (-3.0% per month) and Taiwan (Chinese) (+0.9% per month).
In value terms, China ($16M), South Korea ($15M) and Japan ($10M) were the largest markets for prisms and mirrors exported from the United States worldwide, together comprising 37% of total exports. These countries were followed by Taiwan (Chinese), the UK, Mexico and India, which together accounted for a further 13%.
Taiwan (Chinese), with a CAGR of -0.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.
Export Prices by Country
In March 2023, the prisms and mirrors price amounted to $322K per ton (FOB, US), approximately reflecting the previous month. In general, the export price, however, saw a pronounced setback. The growth pace was the most rapid in December 2022 when the average export price increased by 97% against the previous month. As a result, the export price attained the peak level of $621K per ton. From January 2023 to March 2023, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In March 2023, the country with the highest price was Japan ($1.3M per ton), while the average price for exports to India ($42,854 per ton) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.7%), while the prices for the other major destinations experienced a decline.