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Hong Kong SAR, China - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Hong Kong SAR, China - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Dec 8, 2023

Import of Hot-Rolled Steel Bar and Rod in Hong Kongs Soars 15% to $88M in September 2023

Hong Kong Hot-Rolled Steel Bar and Rod Imports

In September 2023, overseas purchases of hot-rolled steel bars and rods were finally on the rise to reach 144K tons after two months of decline. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 with an increase of 70% against the previous month.

In value terms, hot-rolled steel bar and rod imports rose significantly to $88M (IndexBox estimates) in September 2023. In general, imports, however, recorded a mild decline. The pace of growth was the most pronounced in January 2023 with an increase of 60% against the previous month.Hong Kong Hot-Rolled Steel Bar and Rod Imports By Country (Million USD)

COUNTRYImport Value of Hot-Rolled Steel Bar and Rod in Hong Kong (million USD)
Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023
China2.17.20.53.13.6< 0.145.436.934.38.011.731.842.0
Malaysia77.561.271.557.250.184.134.080.326.347.255.143.541.4
Vietnam21.6N/A24.3N/A13.6N/AN/AN/A6.79.7N/AN/A2.9
QatarN/AN/AN/AN/A29.630.729.832.232.9N/A32.0N/AN/A
Saudi ArabiaN/AN/AN/AN/AN/AN/AN/AN/A34.373.1N/AN/AN/A
Others0.633.71.50.80.60.71.91.02.00.41.00.91.3
Total10210297.861.197.511611115013713899.776.287.6

Imports by Country

China (71K tons), Malaysia (67K tons) and Vietnam (5.2K tons) were the main suppliers of hot-rolled steel bar and rod imports to Hong Kong, together accounting for 99% of total imports.

From September 2022 to September 2023, the biggest increases were in China (with a CAGR of +31.3%), while purchases for the other leaders experienced a decline.

In value terms, the largest hot-rolled steel bar and rod suppliers to Hong Kong were China ($42M), Malaysia ($41M) and Vietnam ($2.9M), with a combined 99% share of total imports.

Among the main suppliers, China, with a CAGR of +28.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Imports by Type

In September 2023, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (139K tons) was the main type of hot-rolled steel bar and rod supplied to Hong Kong, accounting for a 97% share of total imports. It was followed by iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (4.3K tons), with a 3% share of total imports. Hot-rolled bars in bearing steels (10 tons) ranked third in terms of total imports with less than 0.1% share.

From September 2022 to September 2023, the average monthly rate of growth in terms of the volume of import of iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling was relatively modest. With regard to the other supplied products, the following average monthly rates of growth were recorded: iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (+4.2% per month) and hot-rolled bars in bearing steels (-11.6% per month).

In value terms, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($85M) constituted the largest type of hot-rolled steel bar and rod supplied to Hong Kong, comprising 97% of total imports. The second position in the ranking was held by iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($2.7M), with a 3.1% share of total imports. It was followed by hot-rolled bars in bearing steels, with a 0.3% share.

Import Prices by Country

In September 2023, the hot-rolled steel bar and rod price stood at $609 per ton (CIF, Hong Kong), remaining relatively unchanged against the previous month. In general, the import price continues to indicate a mild descent. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 2.8% month-to-month. The import price peaked at $692 per ton in November 2022; however, from December 2022 to September 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Malaysia ($621 per ton), while the price for Vietnam ($562 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
  • Prodcom 24106120 - Wire rod of free-cutting steel
  • Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
  • Prodcom 24106140 - Wire rod for tyre cord
  • Prodcom 24106190 - Other wire rod (of non-alloy steel)
  • Prodcom 24106210 - Hot-rolled concrete reinforcing bars
  • Prodcom 24106230 - Hot-rolled bars in free-cutting steels
  • Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
  • Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
  • Prodcom 24106410 - Hot-rolled round bars, of stainless steel
  • Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
  • Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
  • Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
  • Prodcom 24106630 - Hot-rolled bars in bearing steels
  • Prodcom 24106640 - Hot-rolled bars in tool steels
  • Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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