Price for Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR - 2022
Contents:
- Price for Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR (CIF) - 2022
- Price for Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR (FOB) - 2022
- Imports of Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR
- Exports of Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR
Price for Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for steel, alloy; ingots and other primary formses amounted to $2,742 per ton, reducing by -53.8% against the previous year. Over the period under review, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 108%. The import price peaked at $18,833 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($36,853 per ton), while the price for Japan ($2,403 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+58.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for steel, alloy; ingots and other primary formses amounted to $2,059 per ton, reducing by -5.2% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 58% against the previous year. As a result, the export price attained the peak level of $4,105 per ton. From 2016 to 2022, the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.8% per year.
Imports of Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR
After three years of growth, purchases abroad of steel, alloy; ingots and other primary formses decreased by -94.3% to 28 tons in 2022. Overall, imports faced a sharp curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 398% against the previous year. As a result, imports attained the peak of 481 tons, and then reduced notably in the following year.
In value terms, imports of steel, alloy; ingots and other primary formses shrank notably to $76K in 2022. In general, imports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 182% against the previous year. As a result, imports reached the peak of $2.8M, and then reduced notably in the following year.
| Import of Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | N/A | N/A | 0.1 | 0% |
| Sweden | 1.2 | 1.0 | 2.8 | N/A | 52.8% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 1.2 | 1.0 | 2.8 | 0.1 | -56.3% |
Top Suppliers of Steel, Alloy; Ingots and Other Primary Forms to Hong Kong SAR in 2022:
- Japan (27.3 tons)
Exports of Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR
For the fourth year in a row, Hong Kong SAR recorded growth in shipments abroad of steel, alloy; ingots and other primary formses, which increased by 2.9% to 1.6 tons in 2022. The total export volume increased at an average annual rate of +2.9% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 2.9% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of steel, alloy; ingots and other primary formses reduced modestly to $3.3K in 2022. In general, exports, however, recorded a pronounced contraction.
| Export of Steel, Alloy; Ingots and Other Primary Forms in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.6 | 3.5 | 3.4 | 3.3 | -2.9% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 3.6 | 3.5 | 3.4 | 3.3 | -2.9% |
Top Export Markets for Steel, Alloy; Ingots and Other Primary Forms from Hong Kong SAR in 2022:
- China (1.6 tons)
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