Aluminium Wire Price in Hong Kong SAR - 2023
Contents:
- Aluminium Wire Price in Hong Kong SAR (CIF) - 2023
- Aluminium Wire Price in Hong Kong SAR (FOB) - 2023
- Aluminium Wire Imports in Hong Kong SAR
- Aluminium Wire Exports in Hong Kong SAR
Aluminium Wire Price in Hong Kong SAR (CIF) - 2023
The average aluminium wire import price stood at $5,582 per ton in August 2023, shrinking by -26.9% against the previous month. In general, the import price saw a deep contraction. The pace of growth appeared the most rapid in October 2022 an increase of 827% m-o-m. As a result, import price reached the peak level of $138K per ton. From November 2022 to August 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Singapore ($92,037 per ton), while the price for China ($4,684 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.1%), while the prices for the other major suppliers experienced a decline.
Aluminium Wire Price in Hong Kong SAR (FOB) - 2023
The average aluminium wire export price stood at $29,709 per ton in August 2023, with a decrease of -75% against the previous month. Overall, the export price saw a pronounced decrease. The pace of growth was the most pronounced in July 2023 when the average export price increased by 148% against the previous month. As a result, the export price reached the peak level of $119K per ton, and then dropped significantly in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was China ($130K per ton), while the average price for exports to Thailand amounted to $9,783 per ton.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.4%), while the prices for the other major destinations experienced a decline.
Aluminium Wire Imports in Hong Kong SAR
After three years of growth, supplies from abroad of aluminium wires decreased by -22.3% to 868 tons in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by 61% against the previous year. As a result, imports attained the peak of 1.1K tons, and then dropped markedly in the following year.
In value terms, aluminium wire imports reduced remarkably to $7.5M in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +12.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 69% against the previous year. As a result, imports reached the peak of $9.4M, and then declined sharply in the following year.
| Import of Aluminium Wire in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 750 | 970 | 1,643 | 1,922 | 36.8% |
| Malaysia | 1,341 | 1,515 | 1,404 | 1,643 | 7.0% |
| Singapore | 922 | 1,340 | 1,358 | 1,588 | 19.9% |
| Thailand | 713 | 696 | 572 | 587 | -6.3% |
| United States | 480 | 388 | 324 | 334 | -11.4% |
| Taiwan (Chinese) | 425 | 155 | 111 | 270 | -14.0% |
| Japan | 108 | 40.3 | 204 | 239 | 30.3% |
| Canada | 21.5 | 182 | 171 | 200 | 110.3% |
| Italy | 51.0 | 52.5 | 45.5 | 49.2 | -1.2% |
| Norway | N/A | N/A | 86.0 | N/A | 0% |
| Others | 423 | 215 | 3,473 | 641 | 14.9% |
| Total | 5,236 | 5,553 | 9,392 | 7,472 | 12.6% |
Top Suppliers of Aluminium Wire to Hong Kong SAR in 2022:
- China (198.7 tons)
- Thailand (182.8 tons)
- United States (121.9 tons)
- Canada (121.0 tons)
- Taiwan (Chinese) (75.8 tons)
- Japan (44.4 tons)
- Malaysia (38.5 tons)
- Singapore (25.7 tons)
- Italy (12.5 tons)
Aluminium Wire Exports in Hong Kong SAR
In 2022, exports of aluminium wires from Hong Kong SAR skyrocketed to 1.3K tons, jumping by 116% against 2021 figures. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 443% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, aluminium wire exports soared to $4.1M in 2022. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 388% against the previous year. As a result, the exports attained the peak of $5.2M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Aluminium Wire in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 796 | 3,735 | 1,643 | 1,916 | 34.0% |
| Tanzania | 10.4 | 56.1 | 55.9 | 1,081 | 370.2% |
| Spain | 18.1 | 172 | 252 | 254 | 141.2% |
| South Africa | 85.1 | 336 | 188 | 181 | 28.6% |
| Indonesia | 8.8 | 54.6 | 72.2 | 72.9 | 102.3% |
| Colombia | 5.6 | 108 | 63.1 | 63.7 | 124.9% |
| Others | 134 | 702 | 734 | 518 | 56.9% |
| Total | 1,058 | 5,164 | 3,008 | 4,086 | 56.9% |
Top Export Markets for Aluminium Wire from Hong Kong SAR in 2022:
- Tanzania (700.4 tons)
- South Africa (162.4 tons)
- Indonesia (157.9 tons)
- Spain (89.0 tons)
- China (66.2 tons)
- Colombia (35.7 tons)
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