Hong Kong SAR, China: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Hong Kong SAR, China

The Hong Kong flat-rolled steel products market surged to $X in 2021, rising by 75% 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). In general, consumption, however, showed a abrupt setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Flat-Rolled Steel Products Exports

Exports from Hong Kong SAR, China

For the fourth consecutive year, Hong Kong SAR recorded decline in shipments abroad of flat-rolled products of iron or non-alloy steel, which decreased by -36.3% to X tons in 2021. Overall, exports recorded a abrupt decline. The growth pace was the most rapid in 2013 when exports increased by 266% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, flat-rolled steel products exports shrank notably to $X in 2021. Over the period under review, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2013 when exports increased by 289% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for flat-rolled steel products exports from Hong Kong SAR, with a 93% share of total exports. Moreover, flat-rolled steel products exports to China exceeded the volume sent to the second major destination, Sri Lanka (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China totaled -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+7.1% per year) and the Philippines (-60.2% per year).

In value terms, China ($X) remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from Hong Kong SAR, comprising 92% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 7.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+12.2% per year) and the Philippines (-36.7% per year).

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, surging by 10% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+58.9%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in purchases abroad of flat-rolled products of iron or non-alloy steel, when their volume increased by 16% to X tons. In general, imports, however, continue to indicate a abrupt decline. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, flat-rolled steel products imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a abrupt decline. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of flat-rolled steel products to Hong Kong SAR, accounting for a 91% share of total imports. Moreover, flat-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.1% per year) and South Korea (-40.4% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to Hong Kong SAR, comprising 88% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 8.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.6% per year) and South Korea (-26.1% per year).

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2021, picking up by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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