Hong Kong SAR, China: Zinc Market 2024

Zinc Market Size in Hong Kong SAR, China

After three years of decline, the Hong Kong zinc market increased by 178% to $X in 2021. Over the period under review, consumption enjoyed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Zinc Production in Hong Kong SAR, China

In value terms, zinc production declined to $X in 2021 estimated in export price. Over the period under review, production showed a perceptible decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 22% against the previous year. Zinc production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Zinc Exports

Exports from Hong Kong SAR, China

Zinc exports from Hong Kong SAR contracted to X tons in 2021, which is down by -2.8% against 2020 figures. Overall, exports showed a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by 14%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, zinc exports soared to $X in 2021. Over the period under review, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2017 when exports increased by 39%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for zinc exports from Hong Kong SAR, accounting for a 86% share of total exports. Moreover, zinc exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was taken by Thailand (X tons), with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+8.6% per year) and Thailand (+22.9% per year).

In value terms, China ($X) remains the key foreign market for zinc exports from Hong Kong SAR, comprising 84% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 5.4% share of total exports. It was followed by Thailand, with a 3.6% share.

From 2012 to 2021, the average annual growth rate of value to China totaled -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+12.6% per year) and Thailand (+28.5% per year).

Export Prices by Country

In 2021, the average zinc export price amounted to $X per ton, jumping by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Bangladesh ($X per ton) and Vietnam ($X per ton), while the average price for exports to China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of zinc was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a pronounced decrease. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, zinc imports soared to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Australia (X tons) and Japan (X tons) were the main suppliers of zinc imports to Hong Kong SAR, with a combined 93% share of total imports. Peru, Canada and China lagged somewhat behind, together accounting for a further 6.1%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +6.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, South Korea ($X) constituted the largest supplier of zinc to Hong Kong SAR, comprising 54% of total imports. The second position in the ranking was held by Australia ($X), with a 24% share of total imports. It was followed by Japan, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-6.0% per year) and Japan (+6.5% per year).

Import Prices by Country

In 2021, the average zinc import price amounted to $X per ton, jumping by 24% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2017 when the average import price increased by 25%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Peru ($X per ton), while the price for Australia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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