Hong Kong SAR, China: Iron Angle Market 2024

Iron Angle Market Size in Hong Kong SAR, China

The Hong Kong iron angle market skyrocketed to $X in 2021, growing by 37% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +88.0% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Iron Angle Exports

Exports from Hong Kong SAR, China

In 2021, after three years of growth, there was significant decline in overseas shipments of angles, shapes and sections (of iron or non-alloy steel), when their volume decreased by -6% to X tons. Over the period under review, total exports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% 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 +19.2% against 2017 indices. The growth pace was the most rapid in 2013 when exports increased by 38% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron angle exports skyrocketed to $X in 2021. In general, total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 +59.9% against 2017 indices. The growth pace was the most rapid in 2013 when exports increased by 37% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for iron angle exports from Hong Kong SAR, with a 78% share of total exports. Moreover, iron angle exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +2.3%.

In value terms, China ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from Hong Kong SAR, comprising 77% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +4.5%.

Export Prices by Country

The average iron angle export price stood at $X per ton in 2021, surging by 32% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.2%).

Iron Angle Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of angles, shapes and sections (of iron or non-alloy steel) increased by 2.9% to X tons, rising for the third consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 25%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, iron angle imports skyrocketed to $X in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 +121.0% against 2016 indices. As a result, imports attained 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 iron angle to Hong Kong SAR, accounting for a 61% share of total imports. Moreover, iron angle imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. Thailand (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.6% per year) and Thailand (+2.6% per year).

In value terms, China ($X) constituted the largest supplier of angles, shapes and sections (of iron or non-alloy steel) to Hong Kong SAR, comprising 60% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by Thailand, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.0% per year) and Thailand (+4.2% per year).

Import Prices by Country

The average iron angle import price stood at $X per ton in 2021, increasing by 46% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and India ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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