Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR - 2024

Contents:

1. Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR (CIF) - 2024
2. Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR (FOB) - 2024
3. Imports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR
4. Exports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR

Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR (CIF) - 2024

The average import price for iron or steel cast fittings, other than of non-malleable cast ira stood at $2,122 per ton in February 2024, shrinking by -2.3% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.2%. The pace of growth was the most pronounced in August 2023 an increase of 18% m-o-m. The import price peaked at $2,179 per ton in April 2023; however, from May 2023 to February 2024, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In February 2024, the country with the highest price was China ($1,997 per ton), while the price for India totaled $1,865 per ton.

From February 2023 to February 2024, the most notable rate of growth in terms of prices was attained by China (+1.9%).

Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR (FOB) - 2024

In February 2024, the average export price for iron or steel cast fittings, other than of non-malleable cast ira amounted to $8,599 per ton, falling by -46.5% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2023 when the average export price increased by 84% against the previous month. As a result, the export price reached the peak level of $16,154 per ton. From October 2023 to February 2024, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In February 2024, the country with the highest price was China ($33,783 per ton), while the average price for exports to Macao SAR ($5,791 per ton) was amongst the lowest.

From February 2023 to February 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR

In 2022, overseas purchases of iron or steel cast fittings, other than of non-malleable cast ira decreased by -6.4% to 25K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +8.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. As a result, imports reached the peak of 27K tons, and then dropped in the following year.

In value terms, imports of iron or steel cast fittings, other than of non-malleable cast ira expanded to $50M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron to Hong Kong SAR in 2022:

1. China (24.4K tons)
2. India (0.5K tons)

Exports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Hong Kong SAR

For the third consecutive year, Hong Kong SAR recorded decline in overseas shipments of iron or steel cast fittings, other than of non-malleable cast ira, which decreased by -6.1% to 142 tons in 2022. In general, exports recorded a dramatic shrinkage.

In value terms, exports of iron or steel cast fittings, other than of non-malleable cast ira skyrocketed to $2.4M in 2022. Overall, exports saw a noticeable shrinkage.

Top Export Markets for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron from Hong Kong SAR in 2022:

1. Macao SAR (98.9 tons)
2. China (35.6 tons)
3. Vietnam (4.2 tons)
4. United States (3.0 tons)

Source: IndexBox Market Intelligence Platform