Price for Iron or Steel; Cast Articles in Hong Kong SAR - 2023
Contents:
- Price for Iron or Steel; Cast Articles in Hong Kong SAR (CIF) - 2023
- Price for Iron or Steel; Cast Articles in Hong Kong SAR (FOB) - 2022
- Imports of Iron or Steel; Cast Articles in Hong Kong SAR
- Exports of Iron or Steel; Cast Articles in Hong Kong SAR
Price for Iron or Steel; Cast Articles in Hong Kong SAR (CIF) - 2023
The average import price for iron or steel; cast articleses stood at $1,327 per ton in June 2023, falling by -7.1% against the previous month. Over the period under review, the import price showed a slight contraction. The growth pace was the most rapid in August 2022 an increase of 15% against the previous month. As a result, import price attained the peak level of $1,938 per ton. From September 2022 to June 2023, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From June 2022 to June 2023, the rate of growth in terms of prices for China amounted to -1.5% per month.
Price for Iron or Steel; Cast Articles in Hong Kong SAR (FOB) - 2022
The average export price for iron or steel; cast articleses stood at $3,984 per ton in 2022, which is down by -24.6% against the previous year. Overall, the export price, however, posted a notable expansion. The growth pace was the most rapid in 2015 an increase of 1,002%. The export price peaked at $47,486 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($4,990 per ton) and China ($4,576 per ton), while the average price for exports to the UK ($4,542 per ton) and Sweden ($4,555 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Iron or Steel; Cast Articles in Hong Kong SAR
In 2022, the amount of iron or steel; cast articleses imported into Hong Kong SAR soared to 18K tons, with an increase of 41% against the previous year's figure. The total import volume increased at an average annual rate of +11.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, iron or steel; cast articles imports skyrocketed to $27M in 2022. Over the period under review, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Iron or Steel; Cast Articles in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.2 | 15.1 | 17.4 | 27.0 | 23.9% |
| Others | 1.0 | 0.6 | 0.5 | 0.3 | -33.1% |
| Total | 15.2 | 15.7 | 17.8 | 27.4 | 21.7% |
Top Suppliers of Iron or Steel; Cast Articles to Hong Kong SAR in 2022:
- China (17.4K tons)
Exports of Iron or Steel; Cast Articles in Hong Kong SAR
In 2022, shipments abroad of iron or steel; cast articleses was finally on the rise to reach 1K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, iron or steel; cast articles exports surged to $4.1M in 2022. In general, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Iron or Steel; Cast Articles in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 215 | 583 | 542 | 1,887 | 106.3% |
| United States | 59.6 | 76.6 | 170 | 121 | 26.6% |
| United Kingdom | 105 | 104 | 5.0 | 32.4 | -32.4% |
| Sweden | 471 | 257 | 13.9 | 4.7 | -78.5% |
| Others | 51.5 | 21.0 | 43.7 | 2,085 | 243.4% |
| Total | 902 | 1,041 | 774 | 4,130 | 66.1% |
Top Export Markets for Iron or Steel; Cast Articles from Hong Kong SAR in 2022:
- China (412.4 tons)
- United States (24.2 tons)
- United Kingdom (7.1 tons)
- Sweden (1.0 tons)
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