Price for Iron and Non-Alloy Steel in Ingot in Hong Kong SAR - 2022
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in Hong Kong SAR (CIF) - 2022
- Price for Iron and Non-Alloy Steel in Ingot in Hong Kong SAR (FOB) - 2022
- Imports of Iron and Non-Alloy Steel in Ingot in Hong Kong SAR
- Exports of Iron and Non-Alloy Steel in Ingot in Hong Kong SAR
Price for Iron and Non-Alloy Steel in Ingot in Hong Kong SAR (CIF) - 2022
The average import price for iron and non-alloy steel in ingots stood at $1,775 per ton in 2022, with a decrease of -46.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 176%. As a result, import price reached the peak level of $3,291 per ton, and then declined notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($11,811 per ton), while the price for Sweden ($226 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+110.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron and Non-Alloy Steel in Ingot in Hong Kong SAR (FOB) - 2022
The average export price for iron and non-alloy steel in ingots stood at $5,397 per ton in 2022, falling by -28.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 167%. Over the period under review, the average export prices reached the peak figure at $7,583 per ton in 2021, and then fell dramatically in the following year.
As there is only one major export destination, the average price level is determined by prices for Indonesia.
From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to -0.1% per year.
Imports of Iron and Non-Alloy Steel in Ingot in Hong Kong SAR
In 2022, purchases abroad of iron and non-alloy steel in ingots was finally on the rise to reach 2.3K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a sharp shrinkage.
In value terms, imports of iron and non-alloy steel in ingots dropped slightly to $4.2M in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 6.2% against the previous year. As a result, imports reached the peak of $4.3M, and then dropped in the following year.
| Import of Iron and Non-Alloy Steel in Ingot in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | N/A | N/A | N/A | 1,760 | 0% |
| Sweden | N/A | N/A | 0.3 | 421 | 140233.3% |
| Singapore | 2.5 | N/A | 1,884 | 287 | 386.0% |
| Belgium | N/A | N/A | N/A | 278 | 0% |
| Spain | 1,555 | N/A | 19.2 | N/A | -88.9% |
| Russia | 356 | N/A | N/A | N/A | 0% |
| Germany | 6.5 | 958 | N/A | N/A | 14638.5% |
| Malaysia | 149 | 128 | 201 | N/A | 16.1% |
| United Kingdom | 112 | 154 | 16.5 | N/A | -61.6% |
| Others | 1,743 | 2,803 | 2,173 | 1,423 | -6.5% |
| Total | 3,924 | 4,044 | 4,294 | 4,169 | 2.0% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to Hong Kong SAR in 2022:
- Sweden (1863.7 tons)
- United States (149.0 tons)
- Singapore (97.4 tons)
- Belgium (83.6 tons)
Exports of Iron and Non-Alloy Steel in Ingot in Hong Kong SAR
In 2022, the amount of iron and non-alloy steel in ingots exported from Hong Kong SAR soared to 44 tons, rising by 458% compared with the year before. In general, exports enjoyed strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of iron and non-alloy steel in ingots skyrocketed to $238K in 2022. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 375% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Iron and Non-Alloy Steel in Ingot in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 0.3 | 1.2 | 8.2 | 221 | 803.1% |
| Bolivia | N/A | N/A | 4.0 | N/A | 0% |
| Malaysia | 33.2 | N/A | 1.9 | N/A | -76.1% |
| Papua New Guinea | 0.3 | N/A | N/A | N/A | 0% |
| Others | 56.3 | 11.5 | 45.9 | 17.4 | -32.4% |
| Total | 90.1 | 12.6 | 60.0 | 238 | 38.2% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from Hong Kong SAR in 2022:
- Indonesia (41.1 tons)
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