Price for Copper Tube or Pipe Fitting in Hong Kong SAR - 2023

Contents:

1. Price for Copper Tube or Pipe Fitting in Hong Kong SAR (CIF) - 2023
2. Price for Copper Tube or Pipe Fitting in Hong Kong SAR (FOB) - 2023
3. Imports of Copper Tube or Pipe Fitting in Hong Kong SAR
4. Exports of Copper Tube or Pipe Fitting in Hong Kong SAR

Price for Copper Tube or Pipe Fitting in Hong Kong SAR (CIF) - 2023

In June 2023, the average import price for tube or pipe fittings, couplings, elbows, sleeves of refined copper amounted to $12,911 per ton, shrinking by -3.6% against the previous month. In general, the import price showed a mild decline. The growth pace was the most rapid in March 2023 an increase of 45% against the previous month. The import price peaked at $15,342 per ton in June 2022; however, from July 2022 to June 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the UK ($19,898 per ton), while the price for China ($12,082 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 Thailand (+3.9%), while the prices for the other major suppliers experienced a decline.

Price for Copper Tube or Pipe Fitting in Hong Kong SAR (FOB) - 2023

In June 2023, the average export price for tube or pipe fittings, couplings, elbows, sleeves of refined copper amounted to $35,711 per ton, rising by 29% against the previous month. Overall, the export price, however, saw a deep reduction. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 101% month-to-month. As a result, the export price reached the peak level of $112K per ton. From February 2023 to June 2023, the the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was China ($58,065 per ton), while the average price for exports to Macao SAR ($17,490 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Copper Tube or Pipe Fitting in Hong Kong SAR

In 2022, the amount of tube or pipe fittings, couplings, elbows, sleeves of refined copper imported into Hong Kong SAR declined modestly to 996 tons, falling by -4.9% against the previous year. The total import volume increased at an average annual rate of +7.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, imports reached the peak of 1K tons, and then dropped modestly in the following year.

In value terms, copper tube or pipe fitting imports expanded slightly to $14M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +15.0% 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 +78.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 73% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Copper Tube or Pipe Fitting to Hong Kong SAR in 2022:

1. China (799.4 tons)
2. United Kingdom (93.0 tons)
3. Thailand (85.0 tons)

Exports of Copper Tube or Pipe Fitting in Hong Kong SAR

In 2022, exports of tube or pipe fittings, couplings, elbows, sleeves of refined copper from Hong Kong SAR declined significantly to 217 tons, shrinking by -35.7% compared with 2021 figures. In general, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 218%. As a result, the exports reached the peak of 338 tons, and then plummeted in the following year.

In value terms, copper tube or pipe fitting exports shrank markedly to $6.3M in 2022. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 223% against the previous year. As a result, the exports reached the peak of $8.6M, and then reduced notably in the following year.

Top Export Markets for Copper Tube or Pipe Fitting from Hong Kong SAR in 2022:

1. China (173.2 tons)
2. Macao SAR (38.8 tons)
3. United States (3.0 tons)
4. Poland (1.1 tons)
5. Denmark (0.6 tons)

Source: IndexBox Market Intelligence Platform