Price for Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR - 2023

Contents:

1. Price for Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR (CIF) - 2022
2. Price for Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR (FOB) - 2023
3. Imports of Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR
4. Exports of Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR

Price for Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR (CIF) - 2022

In 2022, the average import price for metals; platinum, unwrought or in powder forms amounted to $30,578,851 per ton, which is down by -12.2% against the previous year. Overall, the import price showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the maximum at $49,033,205 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Africa ($31,925,711 per ton) and Japan ($30,632,556 per ton), while the price for the United States ($29,838,671 per ton) and the UK ($29,930,239 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR (FOB) - 2023

The average export price for metals; platinum, unwrought or in powder forms stood at $40.3M per ton in November 2023, picking up by 14% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In November 2023, the country with the highest price was China ($41.4M per ton), while the average price for exports to Taiwan (Chinese) ($29.8M 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 China (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR

In 2022, after three years of growth, there was significant decline in supplies from abroad of metals; platinum, unwrought or in powder forms, when their volume decreased by -7.7% to 52 tons. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.0% 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 +52.0% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 34% against the previous year.

In value terms, imports of metals; platinum, unwrought or in powder forms reduced notably to $1.6B in 2022. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. As a result, imports attained the peak of $2B, and then fell significantly in the following year.

Top Suppliers of Metals; Platinum, Unwrought or in Powder Form to Hong Kong SAR in 2022:

1. United Kingdom (17.9 tons)
2. South Africa (11.8 tons)
3. Japan (7.6 tons)
4. Switzerland (7.0 tons)
5. Russia (3.1 tons)
6. United States (2.6 tons)
7. South Korea (0.8 tons)

Exports of Metals; Platinum, Unwrought or in Powder Form in Hong Kong SAR

In 2022, overseas shipments of metals; platinum, unwrought or in powder forms decreased by -7.9% to 41 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 101%.

In value terms, exports of metals; platinum, unwrought or in powder forms declined sharply to $1.2B in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 100% against the previous year.

Top Export Markets for Metals; Platinum, Unwrought or in Powder Form from Hong Kong SAR in 2022:

1. China (34.2 tons)
2. Switzerland (2.8 tons)
3. United Kingdom (1.8 tons)
4. United Arab Emirates (0.8 tons)

Source: IndexBox Market Intelligence Platform