Hong Kong SAR, China: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Hong Kong SAR, China

For the third year in a row, the Hong Kong market for copper bars, rods and profiles recorded growth in sales value, which increased by 15% to $X in 2022. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Copper bar, rod and profile consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Copper Bars, Rods and Profiles in Hong Kong SAR, China

In value terms, copper bar, rod and profile production rose to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 57% against the previous year. Copper bar, rod and profile production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports from Hong Kong SAR, China

Copper bar, rod and profile exports from Hong Kong SAR declined dramatically to X tons in 2022, with a decrease of -70% against 2021 figures. In general, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 98% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, copper bar, rod and profile exports reduced markedly to $X in 2022. Overall, exports faced a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 119% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for copper bar, rod and profile exports from Hong Kong SAR, accounting for a approx. 96% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -23.4%.

In value terms, China ($X) also remains the key foreign market for copper bars, rods and profiles exports from Hong Kong SAR.

From 2012 to 2022, the average annual growth rate of value to China amounted to -19.0%.

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, surging by 34% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile export price increased by +101.5% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +5.7% per year.

Imports of Copper Bars, Rods and Profiles

Imports into Hong Kong SAR, China

In 2022, approx. X tons of copper bars, rods and profiles were imported into Hong Kong SAR; waning by -54% compared with 2021. Overall, imports saw a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 38% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile imports contracted sharply to $X in 2022. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2021 with an increase of 64%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of copper bar, rod and profile imports to Hong Kong SAR, with a combined 60% share of total imports. Japan, South Korea, Taiwan (Chinese) and the UK lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +31.8%), while imports for the other leaders experienced a decline.

In value terms, the largest copper bar, rod and profile suppliers to Hong Kong SAR were Thailand ($X), China ($X) and Malaysia ($X), with a combined 60% share of total imports. Japan, South Korea, Taiwan (Chinese) and the UK lagged somewhat behind, together comprising a further 29%.

Among the main suppliers, the UK, with a CAGR of +18.2%, 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 more modest paces of growth.

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, jumping by 16% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +38.2% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 22% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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