Hong Kong SAR, China: Copper Chain Market 2024

Copper Chain Market Size in Hong Kong SAR, China

The Hong Kong copper chain market dropped dramatically to $X in 2022, reducing by -16.8% against the previous year. In general, consumption showed a abrupt downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Copper Chain Production in Hong Kong SAR, China

In value terms, copper chain production surged to $X in 2022 estimated in export price. Overall, production saw a precipitous slump. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Copper Chain Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of chain and parts thereof of copper decreased by -10.9% to X tons in 2022. Overall, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2020 when exports increased by 144% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, copper chain exports contracted to $X in 2022. In general, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 148% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), the United States (X tons) and India (X tons) were the main destinations of copper chain exports from Hong Kong SAR, together accounting for 68% of total exports. The UK, Vietnam, Japan, Italy and Thailand lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +18.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for chain and parts thereof of copper exports from Hong Kong SAR, comprising 48% of total exports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total exports. It was followed by Thailand, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+13.4% per year) and Thailand (-26.8% per year).

Export Prices by Country

In 2022, the average copper chain export price amounted to $X per ton, shrinking by -4.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2016 an increase of 31% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the UK ($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 (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Chain Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of chain and parts thereof of copper increased by 41% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, recorded a deep slump. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, copper chain imports soared to $X in 2022. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 78%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Sri Lanka (X tons) and Germany (X tons) were the main suppliers of copper chain imports to Hong Kong SAR, with a combined 86% share of total imports. Japan, Thailand, the United States and France lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +16.7%), while imports for the other leaders experienced a decline.

In value terms, the largest copper chain suppliers to Hong Kong SAR were Sri Lanka ($X), China ($X) and Thailand ($X), together accounting for 73% of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +17.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average copper chain import price amounted to $X per ton, with a decrease of -2.1% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper chain import price increased by +41.3% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 74%. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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