Hong Kong SAR, China: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Hong Kong SAR, China

The Hong Kong non-alloy steel u-section market contracted to $X in 2022, with a decrease of X% against the previous year. Overall, consumption continues to indicate a pronounced decline. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Non-Alloy Steel U-Section Production in Hong Kong SAR, China

In value terms, non-alloy steel u-section production contracted to $X in 2022 estimated in export price. In general, production showed a pronounced curtailment. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

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Non-Alloy Steel U-Section Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of u-sections of non-alloy steel decreased by X% to X tons in 2022. Over the period under review, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, non-alloy steel u-section exports expanded sharply to $X in 2022. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for non-alloy steel u-section exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, non-alloy steel u-section exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Guam (X% per year).

In value terms, China ($X) remains the key foreign market for u-sections of non-alloy steel exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Macao SAR ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Guam (X% per year).

Export Prices by Country

In 2022, the average non-alloy steel u-section export price amounted to $X per ton, picking up by X% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas purchases of u-sections of non-alloy steel, when their volume decreased by X% to X tons. Over the period under review, imports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, non-alloy steel u-section imports fell to $X in 2022. In general, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Macao SAR (X tons) were the main suppliers of non-alloy steel u-section imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Macao SAR (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Spain ($X) constituted the largest non-alloy steel u-section suppliers to Hong Kong SAR, with a combined X% share of total imports. Turkey, Thailand, Macao SAR, India and the UK lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Macao SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-alloy steel u-section import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 Spain ($X per ton), while the price for Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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