Hong Kong SAR, China: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Hong Kong SAR, China

The Hong Kong market for hot-rolled steel bars and rods was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Hong Kong SAR, China

In 2021, overseas shipments of hot-rolled steel bars and rods increased by 43% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports saw resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 95%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports soared to $X in 2021. Overall, exports posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Macao SAR (X tons) was the main destination for hot-rolled steel bar and rod exports from Hong Kong SAR, accounting for a 79% share of total exports. Moreover, hot-rolled steel bar and rod exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR totaled +13.5%.

In value terms, Macao SAR ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Hong Kong SAR, comprising 76% of total exports. The second position in the ranking was taken by China ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Macao SAR totaled +12.8%.

Export Prices by Country

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2021, picking up by 31% against the previous year. In general, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 91% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (-0.6%).

Imports of Hot-Rolled Steel Bars and Rods

Imports into Hong Kong SAR, China

In 2021, overseas purchases of hot-rolled steel bars and rods increased by 44% to X tons, rising for the second year in a row after four years of decline. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.9% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel bar and rod imports skyrocketed to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), India (X tons) and China (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Hong Kong SAR, with a combined 67% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +133.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod suppliers to Hong Kong SAR were Turkey ($X), India ($X) and China ($X), together comprising 66% of total imports. Vietnam, Qatar, Saudi Arabia, Russia and Oman lagged somewhat behind, together comprising a further 30%.

In terms of the main suppliers, Vietnam, with a CAGR of +112.0%, 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

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2021, growing by 39% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Oman ($X per ton) and Saudi Arabia ($X per ton), while the price for Russia ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :