Report Update: May 1, 2024

Hong Kong SAR, China - Hot-Rolled Bars In Free-Cutting Steels - Market Analysis, Forecast, Size, Trends And Insights

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Hot-Rolled Free-Cutting Steel Price in Hong Kong SAR - 2022

Hot-Rolled Free-Cutting Steel Price in Hong Kong SAR (CIF) - 2022

The average hot-rolled free-cutting steel import price stood at $1,620 per ton in 2022, dropping by -8.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2017 an increase of 29%. The import price peaked at $1,766 per ton in 2021, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($1,736 per ton), while the price for the United Arab Emirates stood at $1,615 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.1%).

Hot-Rolled Free-Cutting Steel Price in Hong Kong SAR (FOB) - 2022

The average hot-rolled free-cutting steel export price stood at $1,198 per ton in 2022, reducing by -1.8% against the previous year. Overall, the export price saw a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of 2,429% against the previous year. The export price peaked at $3,485 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to -3.6% per year.

Hot-Rolled Free-Cutting Steel Imports in Hong Kong SAR

In 2022, the amount of hot-rolled bars in free-cutting steels imported into Hong Kong SAR contracted to 2.1K tons, shrinking by -10.9% on the year before. In general, imports recorded a mild decline. The pace of growth was the most pronounced in 2021 with an increase of 32%. As a result, imports reached the peak of 2.4K tons, and then fell in the following year.

In value terms, hot-rolled free-cutting steel imports dropped remarkably to $3.4M in 2022. Overall, total imports indicated a modest expansion from 2019 to 2022: its value increased at an average annual rate of +1.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 57% against the previous year. As a result, imports reached the peak of $4.2M, and then fell rapidly in the following year.

Import of Hot-Rolled Free-Cutting Steel in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	3.2	N/A	N/A	3.3	1.0%
Taiwan (Chinese)	0.1	2.6	3.6	0.1	0.0%
Others	N/A	N/A	0.5	N/A	0%
Total	3.3	2.6	4.2	3.4	1.0%

Top Suppliers of Hot-Rolled Free-Cutting Steel to Hong Kong SAR in 2022:

United Arab Emirates (2052.3 tons)
Taiwan (Chinese) (42.9 tons)

Hot-Rolled Free-Cutting Steel Exports in Hong Kong SAR

In 2022, hot-rolled free-cutting steel exports from Hong Kong SAR stood at 61 tons, growing by 3.2% on the year before. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 6,942% against the previous year. As a result, the exports attained the peak of 1.5K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, hot-rolled free-cutting steel exports stood at $73K in 2022. Over the period under review, exports, however, showed a mild setback.

Export of Hot-Rolled Free-Cutting Steel in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Brazil	N/A	N/A	N/A	72.3	0%
Papua New Guinea	0.2	71.0	N/A	N/A	35400.0%
Antigua and Barbuda	N/A	3.0	N/A	N/A	0%
Others	75.8	N/A	72.2	0.8	-78.1%
Total	76.0	74.1	72.2	73.1	-1.3%

Top Export Markets for Hot-Rolled Free-Cutting Steel from Hong Kong SAR in 2022:

Brazil (60.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the hot-rolled free-cutting steel market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106230 - Hot-rolled bars in free-cutting steels

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023