June 2022: Overview
The General View: There’s inflation, a war with global implications, supply-chain issues – and U.S. hard-surface imports mark a new record level by breaking the customs-value half-billion-dollar ceiling in June. Rising cost-of-goods is fueling this, but it’s still a significant milepost.
The Expected: Granite value recovered in June with a 16.5% increase from May, pushing it ahead of marble. Porcelain picked up the slack in most sectors, bumping up 12.8% in June to $135.2 million.
The Unexpected: Slack? That half-billion-dollar mark in June overshadows a wealth of underperformance, starting with a 7.9% month-to-month drop in quartz-slab volume (with value down 5.7%). Even marble showed a bit of June swoon with a 2.4% drop in volume from May.
The Strange: Malaysia’s quartz-slab exports drop by more than 80% in both value and volume from the same time last year. Looks like some complaints about transshipping may be getting results.
Next Month: Tariff concerns could be driving down Asian quartz-slab shipments to the United States, but demand may be lessening. Volume declines in other sectors, such as marble and granite, could be signaling that the unlikely pandemic boom is finally over.