Price for Hot-Rolled Wire Rod in Coils in Hong Kong SAR - 2023
Contents:
- Price for Hot-Rolled Wire Rod in Coils in Hong Kong SAR (CIF) - 2023
- Price for Hot-Rolled Wire Rod in Coils in Hong Kong SAR (FOB) - 2023
- Imports of Hot-Rolled Wire Rod in Coils in Hong Kong SAR
- Exports of Hot-Rolled Wire Rod in Coils in Hong Kong SAR
Price for Hot-Rolled Wire Rod in Coils in Hong Kong SAR (CIF) - 2023
The average import price for hot-rolled wire rods in coils stood at $799 per ton in November 2023, growing by 9.5% against the previous month. Overall, the import price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in February 2023 an increase of 36% m-o-m. Over the period under review, average import prices reached the maximum at $1,042 per ton in November 2022; however, from December 2022 to November 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was Turkey ($799 per ton), while the price for China stood at $690 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the prices for the other major suppliers experienced a decline.
Price for Hot-Rolled Wire Rod in Coils in Hong Kong SAR (FOB) - 2023
In November 2023, the average export price for hot-rolled wire rods in coils amounted to $4,732 per ton, remaining stable against the previous month. In general, the export price, however, saw a noticeable contraction. The pace of growth was the most pronounced in August 2023 an increase of 18% m-o-m. The export price peaked at $8,430 per ton in November 2022; however, from December 2022 to November 2023, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for China.
From November 2022 to November 2023, the rate of growth in terms of prices for China amounted to -4.7% per month.
Imports of Hot-Rolled Wire Rod in Coils in Hong Kong SAR
In 2022, approx. 14K tons of hot-rolled wire rods in coils were imported into Hong Kong SAR; with a decrease of -42.6% compared with 2021 figures. In general, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 58%. As a result, imports attained the peak of 25K tons, and then contracted dramatically in the following year.
In value terms, hot-rolled wire rod in coils imports reduced dramatically to $15M in 2022. Over the period under review, imports, however, showed strong growth. The growth pace was the most rapid in 2021 with an increase of 155%. As a result, imports reached the peak of $19M, and then reduced sharply in the following year.
| Import of Hot-Rolled Wire Rod in Coils in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | N/A | 0.6 | 3.6 | 4.6 | 176.9% |
| Spain | 0.9 | 1.5 | 4.1 | 3.2 | 52.6% |
| Italy | N/A | N/A | 1.6 | 2.9 | 81.2% |
| China | 5.9 | 4.6 | 6.8 | 1.6 | -35.3% |
| Malaysia | N/A | N/A | N/A | 1.3 | 0% |
| India | N/A | N/A | 2.7 | 0.6 | -77.8% |
| Turkey | 0.3 | N/A | 0.8 | 0.2 | -12.6% |
| South Korea | 2.5 | 0.7 | N/A | N/A | -72.0% |
| Others | 0.2 | 0.2 | 0.1 | 0.1 | -20.6% |
| Total | 9.8 | 7.6 | 19.5 | 14.5 | 13.9% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to Hong Kong SAR in 2022:
- Singapore (5.4K tons)
- Spain (3.6K tons)
- China (1.9K tons)
- Malaysia (1.5K tons)
- India (0.8K tons)
- Italy (0.6K tons)
- Turkey (0.2K tons)
Exports of Hot-Rolled Wire Rod in Coils in Hong Kong SAR
In 2022, shipments abroad of hot-rolled wire rods in coils decreased by -47.6% to 94 tons, falling for the second year in a row after two years of growth. In general, exports recorded a significant contraction. The most prominent rate of growth was recorded in 2020 with an increase of 46%. As a result, the exports reached the peak of 300 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, hot-rolled wire rod in coils exports rose modestly to $425K in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +10.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 42% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
| Export of Hot-Rolled Wire Rod in Coils in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 316 | 205 | 413 | 425 | 10.4% |
| Singapore | N/A | 86.0 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 316 | 291 | 413 | 425 | 10.4% |
Top Export Markets for Hot-Rolled Wire Rod in Coils from Hong Kong SAR in 2022:
- China (93.8 tons)
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