Price for Wire of Other Alloy Steel in Hong Kong SAR - 2023
Contents:
- Price for Wire of Other Alloy Steel in Hong Kong SAR (FOB) - 2023
- Price for Wire of Other Alloy Steel in Hong Kong SAR (CIF) - 2023
- Exports of Wire of Other Alloy Steel in Hong Kong SAR
- Imports of Wire of Other Alloy Steel in Hong Kong SAR
Price for Wire of Other Alloy Steel in Hong Kong SAR (FOB) - 2023
The average export price for wire of other alloy steels stood at $16,677 per ton in June 2023, jumping by 26% against the previous month. Overall, export price indicated a measured increase from November 2022 to June 2023: its price increased at an average monthly rate of +2.1% over the last seven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, wire of other alloy steel export price increased by +75.8% against March 2023 indices. The growth pace was the most rapid in April 2023 an increase of 78% against the previous month. Over the period under review, the average export prices reached the maximum at $17,700 per ton in February 2023; however, from March 2023 to June 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major foreign markets. In June 2023, the country with the highest price was China ($16,962 per ton), while the average price for exports to the Philippines ($14,151 per ton) was amongst the lowest.
From November 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Wire of Other Alloy Steel in Hong Kong SAR (CIF) - 2023
The average import price for wire of other alloy steels stood at $20,339 per ton in June 2023, surging by 60% against the previous month. Over the period under review, the import price recorded a prominent increase. The pace of growth was the most pronounced in April 2023 an increase of 245% against the previous month. As a result, import price attained the peak level of $27,865 per ton. From May 2023 to June 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Taiwan (Chinese) ($27,683 per ton), while the price for Japan ($3,840 per ton) was amongst the lowest.
From November 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+18.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Wire of Other Alloy Steel in Hong Kong SAR
In 2022, approx. 153 tons of wire of other alloy steels were exported from Hong Kong SAR; with a decrease of -63.9% against 2021 figures. Over the period under review, exports saw a significant decline. The pace of growth appeared the most rapid in 2021 when exports increased by 2.2%.
In value terms, wire of other alloy steel exports contracted notably to $3.2M in 2022. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 69% against the previous year. As a result, the exports attained the peak of $6.5M, and then dropped markedly in the following year.
| Export of Wire of Other Alloy Steel in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.8 | 2.9 | 4.8 | 2.3 | -15.4% |
| Vietnam | 0.5 | 0.5 | 0.8 | 0.6 | 6.3% |
| Philippines | 0.9 | 0.4 | 0.9 | 0.2 | -39.4% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 5.2 | 3.8 | 6.5 | 3.2 | -14.9% |
Top Export Markets for Wire of Other Alloy Steel from Hong Kong SAR in 2022:
- China (100.2 tons)
- Vietnam (35.8 tons)
- Philippines (14.9 tons)
Imports of Wire of Other Alloy Steel in Hong Kong SAR
In 2022, the amount of wire of other alloy steels imported into Hong Kong SAR reduced remarkably to 90 tons, which is down by -61.8% compared with the year before. In general, imports continue to indicate a sharp reduction. The growth pace was the most rapid in 2021 with an increase of 2.5%.
In value terms, wire of other alloy steel imports declined sharply to $1.8M in 2022. Overall, imports recorded a pronounced reduction. The growth pace was the most rapid in 2021 when imports increased by 64%. As a result, imports reached the peak of $4.3M, and then reduced remarkably in the following year.
| Import of Wire of Other Alloy Steel in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 431 | 1,067 | 2,743 | 1,072 | 35.5% |
| Japan | 868 | 1,219 | 1,356 | 636 | -9.8% |
| China | 680 | 240 | 151 | 87.2 | -49.6% |
| Others | 19.7 | 98.2 | 60.0 | 26.7 | 10.7% |
| Total | 1,999 | 2,624 | 4,310 | 1,822 | -3.0% |
Top Suppliers of Wire of Other Alloy Steel to Hong Kong SAR in 2022:
- Taiwan (Chinese) (49.0 tons)
- Japan (26.1 tons)
- China (13.6 tons)
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