Stainless Steel Wire Price in Hong Kong SAR - 2023
Contents:
- Stainless Steel Wire Price in Hong Kong SAR (FOB) - 2023
- Stainless Steel Wire Price in Hong Kong SAR (CIF) - 2022
- Stainless Steel Wire Exports in Hong Kong SAR
- Stainless Steel Wire Imports in Hong Kong SAR
Stainless Steel Wire Price in Hong Kong SAR (FOB) - 2023
The average stainless steel wire export price stood at $14,565 per ton in June 2023, shrinking by -12.7% against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average export price increased by 76% month-to-month. The export price peaked at $25,203 per ton in March 2023; however, from April 2023 to June 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In June 2023, the country with the highest price was Malaysia ($45,347 per ton), while the average price for exports to China ($13,480 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+5.5%), while the prices for the other major destinations experienced a decline.
Stainless Steel Wire Price in Hong Kong SAR (CIF) - 2022
The average stainless steel wire import price stood at $7,148 per ton in 2022, shrinking by -3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 11% against the previous year. The import price peaked at $7,400 per ton in 2021, and then declined modestly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($17,258 per ton), while the price for China ($8,028 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Wire Exports in Hong Kong SAR
In 2022, after two years of decline, there was growth in overseas shipments of stainless steel wire, when their volume increased by 2.7% to 2.8K tons. In general, exports, however, showed a noticeable reduction.
In value terms, stainless steel wire exports declined modestly to $23M in 2022. Overall, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 when exports increased by 3.5% against the previous year.
| Export of Stainless Steel Wire in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 26.7 | 22.3 | 22.6 | 19.8 | -9.5% |
| Others | 1.0 | 0.5 | 1.0 | 3.4 | 50.4% |
| Total | 27.7 | 22.8 | 23.6 | 23.2 | -5.7% |
Top Export Markets for Stainless Steel Wire from Hong Kong SAR in 2022:
- China (3.0K tons)
Stainless Steel Wire Imports in Hong Kong SAR
In 2022, supplies from abroad of stainless steel wire was finally on the rise to reach 2.7K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a abrupt descent.
In value terms, stainless steel wire imports amounted to $19M in 2022. In general, imports, however, saw a abrupt contraction.
| Import of Stainless Steel Wire in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 9.9 | 7.0 | 6.9 | 4.5 | -23.1% |
| China | 7.7 | 3.8 | 2.9 | 2.7 | -29.5% |
| South Korea | 4.3 | 4.0 | 4.2 | 2.4 | -17.7% |
| Taiwan (Chinese) | 1.4 | 1.1 | 1.0 | 0.7 | -20.6% |
| Thailand | 1.7 | 0.8 | 1.1 | 0.7 | -25.6% |
| Ireland | 1.1 | 0.3 | 0.9 | 0.5 | -23.1% |
| Vietnam | 0.7 | 0.5 | 0.2 | 0.3 | -24.6% |
| Others | 3.0 | 1.7 | 1.6 | 7.2 | 33.9% |
| Total | 29.9 | 19.3 | 18.8 | 19.0 | -14.0% |
Top Suppliers of Stainless Steel Wire to Hong Kong SAR in 2022:
- China (340.7 tons)
- Japan (261.6 tons)
- South Korea (260.6 tons)
- Thailand (70.1 tons)
- Taiwan (Chinese) (69.5 tons)
- Ireland (39.5 tons)
- Vietnam (30.8 tons)
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