Price for Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR - 2023

Contents:

1. Price for Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR (CIF) - 2023
2. Price for Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR (FOB) - 2023
3. Imports of Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR
4. Exports of Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR

Price for Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR (CIF) - 2023

In November 2023, the average import price for copper; tube or pipe fittings (eg couplings, elbows, sleeves)s amounted to $14,098 per ton, growing by 17% against the previous month. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 38% m-o-m. Over the period under review, average import prices hit record highs at $14,721 per ton in June 2023; however, from July 2023 to November 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In November 2023, the countries with the highest prices were the UK ($16,999 per ton) and Italy ($16,257 per ton), while the price for China ($12,016 per ton) and Thailand ($12,995 per ton) were amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR (FOB) - 2023

The average export price for copper; tube or pipe fittings (eg couplings, elbows, sleeves)s stood at $26,337 per ton in November 2023, increasing by 5.7% against the previous month. Over the period under review, the export price, however, continues to indicate a pronounced descent. The pace of growth was the most pronounced in January 2023 an increase of 65% against the previous month. Over the period under review, the average export prices attained the maximum at $37,501 per ton in November 2022; however, from December 2022 to November 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was China ($35,405 per ton), while the average price for exports to Germany ($10,101 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.1%), while the prices for the other major destinations experienced a decline.

Imports of Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR

Imports of copper; tube or pipe fittings (eg couplings, elbows, sleeves)s into Hong Kong SAR dropped slightly to 1.8K tons in 2022, waning by -1.6% against the previous year's figure. The total import volume increased at an average annual rate of +5.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 40% against the previous year. As a result, imports reached the peak of 1.9K tons, and then shrank modestly in the following year.

In value terms, imports of copper; tube or pipe fittings (eg couplings, elbows, sleeves)s reached $24M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +11.7% 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 +71.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 70%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) to Hong Kong SAR in 2022:

1. China (1430.0 tons)
2. Thailand (216.5 tons)
3. United Kingdom (136.8 tons)

Exports of Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) in Hong Kong SAR

In 2022, shipments abroad of copper; tube or pipe fittings (eg couplings, elbows, sleeves)s decreased by -21.3% to 379 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +7.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.8% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 57%. As a result, the exports reached the peak of 482 tons, and then declined significantly in the following year.

In value terms, exports of copper; tube or pipe fittings (eg couplings, elbows, sleeves)s reduced sharply to $9.9M in 2022. Overall, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 138%. As a result, the exports reached the peak of $14M, and then contracted dramatically in the following year.

Top Export Markets for Copper; Tube or Pipe Fittings (Eg Couplings, Elbows, Sleeves) from Hong Kong SAR in 2022:

1. China (307.0 tons)
2. Macao SAR (42.0 tons)
3. United States (8.2 tons)
4. Denmark (0.6 tons)

Source: IndexBox Market Intelligence Platform