Hong Kong SAR, China: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2024

Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Hong Kong SAR, China

In 2021, the Hong Kong hot-rolled silico-manganese steel bar market decreased by -64.6% to $X, falling for the fifth consecutive year after three years of growth. Overall, consumption faced a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars Of Silico-Manganese Steel in Hong Kong SAR, China

In value terms, hot-rolled silico-manganese steel bar production contracted dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 51%. Hot-rolled silico-manganese steel bar production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports from Hong Kong SAR, China

In 2021, the amount of hot-rolled bars of silico-manganese steel exported from Hong Kong SAR skyrocketed to X tons, picking up by 72% against 2020 figures. Overall, exports posted significant growth. The growth pace was the most rapid in 2020 with an increase of 573%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, hot-rolled silico-manganese steel bar exports soared to $X in 2021. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 429% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons) was the main destination for hot-rolled silico-manganese steel bar exports from Hong Kong SAR, with a 87% share of total exports. Moreover, hot-rolled silico-manganese steel bar exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +76.1%.

In value terms, China ($X) remains the key foreign market for hot-rolled bars of silico-manganese steel exports from Hong Kong SAR, comprising 82% of total exports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled +59.8%.

Export Prices by Country

In 2021, the average hot-rolled silico-manganese steel bar export price amounted to $X per ton, growing by 5.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 109% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-1.3%), while the prices for the other major destinations experienced a decline.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports into Hong Kong SAR, China

Hot-rolled silico-manganese steel bar imports into Hong Kong SAR surged to X tons in 2021, increasing by 16% compared with 2020. Over the period under review, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 629% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hot-rolled silico-manganese steel bar imports soared to $X in 2021. Overall, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 110%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) was the main hot-rolled silico-manganese steel bar supplier to Hong Kong SAR, with a 99% share of total imports. It was followed by China (X kg), with a 0.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +4.2%.

In value terms, Russia ($X) constituted the largest supplier of hot-rolled bars of silico-manganese steel to Hong Kong SAR, comprising 78% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia totaled +1.5%.

Import Prices by Country

The average hot-rolled silico-manganese steel bar import price stood at $X per ton in 2021, surging by 2.7% against the previous year. In general, the import price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 89% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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 China ($X per ton), while the price for Russia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+47.8%).

Source: IndexBox Platform

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