Hong Kong SAR, China: Tin Market 2024

Tin Market Size in Hong Kong SAR, China

The Hong Kong tin market skyrocketed to $X in 2022, with an increase of 180% against the previous year. Over the period under review, consumption saw a significant expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Tin Production in Hong Kong SAR, China

In value terms, tin production fell markedly to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2014 when the production volume increased by 170%. Tin production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Tin Exports

Exports from Hong Kong SAR, China

In 2022, tin exports from Hong Kong SAR contracted notably to X tons, dropping by -97.4% compared with the previous year's figure. Over the period under review, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2021 with an increase of 1,659% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, tin exports dropped significantly to $X in 2022. In general, exports faced a significant decline. The pace of growth was the most pronounced in 2021 with an increase of 2,612%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for tin exports from Hong Kong SAR, accounting for a 94% share of total exports. Moreover, tin exports to China exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The Netherlands (X kg) ranked third in terms of total exports with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+91.8% per year) and the Netherlands (-63.9% per year).

In value terms, China ($X) emerged as the key foreign market for tin exports from Hong Kong SAR, comprising 97% of total exports. The second position in the ranking was taken by the United States ($X), with a 2.3% share of total exports. It was followed by Singapore, with a 0.1% share.

From 2012 to 2022, the average annual growth rate of value to China totaled -21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+89.3% per year) and Singapore (-51.0% per year).

Export Prices by Country

In 2022, the average tin export price amounted to $X per ton, surging by 32% against the previous year. In general, the export price enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Malaysia ($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 Singapore (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into Hong Kong SAR, China

In 2022, the amount of tin imported into Hong Kong SAR reduced markedly to X tons, with a decrease of -76.3% on the previous year. Over the period under review, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 352% against the previous year. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, tin imports reduced markedly to $X in 2022. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 599%. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest tin supplier to Hong Kong SAR, accounting for a 59% share of total imports. Moreover, tin imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.7% per year) and Taiwan (Chinese) (-13.1% per year).

In value terms, Malaysia ($X), China ($X) and Taiwan (Chinese) ($X) were the largest tin suppliers to Hong Kong SAR, together accounting for 94% of total imports.

In terms of the main suppliers, China, with a CAGR of +38.3%, recorded 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 tin import price amounted to $X per ton, falling by -14.6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 55%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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 Singapore ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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