Hong Kong SAR, China: Base Metal Hook Market 2022

Base Metal Hook Market Size in Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in the Hong Kong base metal hook market, when its value increased by X% to $X. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Base Metal Hook Exports

Exports from Hong Kong SAR, China

In 2021, base metal hook exports from Hong Kong SAR soared to X tons, with an increase of X% on the previous year. The total export volume increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, base metal hook exports soared to $X in 2021. Overall, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of base metal hook exports from Hong Kong SAR, with a combined X% share of total exports. These countries were followed by Bangladesh, the United States, Thailand, Cambodia, Sri Lanka, Honduras, France, India, El Salvador and Canada, which together accounted for a further X 2012 to 2021, the biggest increases were in El Salvador (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal hook exported from Hong Kong SAR were China ($X), Vietnam ($X) and Indonesia ($X), with a combined X% share of total exports. Bangladesh, Sri Lanka, Honduras, India, Cambodia, Thailand, El Salvador, the United States, Canada and France lagged somewhat behind, together accounting for a further X terms of the main countries of destination, Honduras, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2021, approximately mirroring the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, base metal hook export price increased by +X% against 2012 indices. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of base metal hooks, eyes and eyelets were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, base metal hook imports surged to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of base metal hook to Hong Kong SAR, with a X% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and Vietnam (+X% per year).

In value terms, China ($X) constituted the largest supplier of base metal hook to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and Vietnam (+X% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, with an increase of X% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, base metal hook import price increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform