Hong Kong SAR, China: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Hong Kong SAR, China

The Hong Kong iron and steel wire market shrank to $X in 2020, dropping by -X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. As a result, consumption reached the peak level of $X. from 2012 to 2020, the growth of the market failed to regain the momentum.

Production of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Hong Kong SAR, China

In value terms, iron and steel wire production reduced to $X in 2020 estimated in export prices. In general, the total production indicated a prominent expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Iron and steel wire production peaked at $X in 2019, and then dropped in the following year.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from Hong Kong SAR, China

In 2020, the amount of wire of iron or non-alloy steel (stainless steel or other alloy steel) exported from Hong Kong SAR dropped sharply to X tons, waning by -X% compared with the year before. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2010 when exports increased by X% y-o-y. As a result, exports attained the peak of X tons. from 2011 to 2020, the growth exports remained at a lower figure.

In value terms, iron and steel wire exports declined to $X in 2020. In general, exports showed a pronounced contraction. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. from 2011 to 2020, the growth exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for iron and steel wire exports from Hong Kong SAR, with a X% share of total exports. It was followed by Vietnam (X tons), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to China amounted to -X%.

In value terms, China ($X) remains the key foreign market for iron and steel wire exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to China stood at -X%.

Export Prices by Country

In 2020, the average iron and steel wire export price amounted to $X per ton, rising by X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. As a result, export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2020, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China totaled $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to China.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into Hong Kong SAR, China

In 2020, approx. X tons of wire of iron or non-alloy steel (stainless steel or other alloy steel) were imported into Hong Kong SAR; which is down by -X% compared with the previous year's figure. Over the period under review, imports showed a abrupt descent. The pace of growth was the most pronounced in 2010 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at X tons in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports dropped notably to $X in 2020. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of iron and steel wire to Hong Kong SAR, with a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-X% per year) and South Korea (-X% per year).

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the largest iron and steel wire suppliers to Hong Kong SAR, with a combined X% share of total imports.

Among the main suppliers, Japan saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2020, with a decrease of -X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Thailand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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