Waxes; Artificial, Prepared Price in Hong Kong SAR - 2023
Contents:
- Waxes; Artificial, Prepared Price in Hong Kong SAR (CIF) - 2022
- Waxes; Artificial, Prepared Price in Hong Kong SAR (FOB) - 2023
- Waxes; Artificial, Prepared Imports in Hong Kong SAR
- Waxes; Artificial, Prepared Exports in Hong Kong SAR
Waxes; Artificial, Prepared Price in Hong Kong SAR (CIF) - 2022
The average waxes; artificial, prepared import price stood at $4,546 per ton in 2022, surging by 34% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, waxes; artificial, prepared import price increased by +69.2% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($16,741 per ton), while the price for Taiwan (Chinese) ($2,737 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Waxes; Artificial, Prepared Price in Hong Kong SAR (FOB) - 2023
In June 2023, the average waxes; artificial, prepared export price amounted to $5,910 per ton, shrinking by -17.6% against the previous month. In general, the export price recorded a slight reduction. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 145% m-o-m. As a result, the export price reached the peak level of $7,174 per ton, and then shrank remarkably in the following month.
Average prices varied noticeably for the major overseas markets. In June 2023, the country with the highest price was Vietnam ($6,302 per ton), while the average price for exports to China totaled $5,776 per ton.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (-1.0%), while the prices for the other major destinations experienced a decline.
Waxes; Artificial, Prepared Imports in Hong Kong SAR
Waxes; artificial, prepared imports into Hong Kong SAR shrank rapidly to 1.7K tons in 2022, with a decrease of -42.4% compared with 2021 figures. Overall, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when imports increased by 28% against the previous year. As a result, imports attained the peak of 2.9K tons, and then shrank notably in the following year.
In value terms, waxes; artificial, prepared imports reduced remarkably to $7.7M in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 40%. As a result, imports reached the peak of $10M, and then reduced dramatically in the following year.
| Import of Waxes; Artificial, Prepared in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 2.0 | 2.1 | 3.1 | 2.4 | 6.3% |
| United States | 2.3 | 2.0 | 2.9 | 2.3 | 0.0% |
| Japan | 0.7 | 0.7 | 1.1 | 0.9 | 8.7% |
| Malaysia | 0.7 | 0.8 | 1.1 | 0.8 | 4.6% |
| Taiwan (Chinese) | 0.9 | 0.5 | 0.7 | 0.6 | -12.6% |
| China | 0.6 | 0.7 | 0.6 | 0.5 | -5.9% |
| Others | 0.5 | 0.4 | 0.5 | 0.3 | -15.7% |
| Total | 7.7 | 7.1 | 10.0 | 7.7 | 0.0% |
Top Suppliers of Waxes; Artificial, Prepared to Hong Kong SAR in 2022:
- Germany (644.5 tons)
- United States (371.6 tons)
- Malaysia (288.4 tons)
- Taiwan (Chinese) (211.5 tons)
- China (70.5 tons)
- Japan (51.5 tons)
Waxes; Artificial, Prepared Exports in Hong Kong SAR
For the third consecutive year, Hong Kong SAR recorded decline in overseas shipments of waxes; artificial, prepared, which decreased by -25% to 2K tons in 2022. In general, exports continue to indicate a precipitous descent. The smallest decline of less than 0.1% was in 2021.
In value terms, waxes; artificial, prepared exports fell sharply to $6.9M in 2022. Over the period under review, exports showed a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 15% against the previous year.
| Export of Waxes; Artificial, Prepared in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.9 | 6.6 | 7.8 | 5.7 | -10.3% |
| Vietnam | 1.6 | 0.6 | 0.6 | 0.7 | -24.1% |
| Taiwan (Chinese) | 0.7 | 0.1 | 0.5 | 0.4 | -17.0% |
| Others | 0.4 | 0.5 | 0.2 | 0.2 | -20.6% |
| Total | 10.6 | 7.9 | 9.0 | 6.9 | -13.3% |
Top Export Markets for Waxes; Artificial, Prepared from Hong Kong SAR in 2022:
- China (1519.9 tons)
- Taiwan (Chinese) (241.0 tons)
- Vietnam (224.6 tons)
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