Hong Kong SAR, China: Zinc Market 2024

Zinc Market Size in Hong Kong SAR, China

The Hong Kong zinc market plummeted to $X in 2022, waning by -23.5% against the previous year. Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Zinc Production in Hong Kong SAR, China

In value terms, zinc production shrank to $X in 2022 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 58%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Zinc Exports

Exports from Hong Kong SAR, China

In 2022, the amount of zinc, unwrought (not alloyed) exported from Hong Kong SAR soared to X tons, increasing by 39% compared with the previous year. In general, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 213%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, zinc exports soared to $X in 2022. Overall, exports, however, showed a pronounced slump. The pace of growth was the most pronounced in 2015 when exports increased by 207%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for zinc exports from Hong Kong SAR, accounting for a 65% share of total exports. Moreover, zinc exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was taken by Bangladesh (X tons), with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) stood at +50.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-18.2% per year) and Bangladesh (-1.4% per year).

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for zinc, unwrought (not alloyed) exports from Hong Kong SAR, comprising 65% of total exports. The second position in the ranking was taken by China ($X), with a 29% share of total exports. It was followed by Bangladesh, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) stood at +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-14.7% per year) and Bangladesh (+4.9% per year).

Export Prices by Country

In 2022, the average zinc export price amounted to $X per ton, picking up by 8.2% against the previous year. In general, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc export price increased by +39.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 31%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Bangladesh ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in purchases abroad of zinc, unwrought (not alloyed), when their volume decreased by -62.7% to X tons. Overall, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2013 when imports increased by 78% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, zinc imports declined dramatically to $X in 2022. Over the period under review, imports recorded a slight decline. The most prominent rate of growth was recorded in 2017 with an increase of 97%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Peru (X tons) constituted the largest zinc supplier to Hong Kong SAR, with a 55% share of total imports. Moreover, zinc imports from Peru exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Peru stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-15.1% per year) and Japan (-71.9% per year).

In value terms, Peru ($X) constituted the largest supplier of zinc, unwrought (not alloyed) to Hong Kong SAR, comprising 54% of total imports. The second position in the ranking was taken by Canada ($X), with a 24% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Peru amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-9.4% per year) and Japan (-64.5% per year).

Import Prices by Country

The average zinc import price stood at $X per ton in 2022, picking up by 28% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +69.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 39%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Canada ($X per ton), while the price for Japan ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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