Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR - 2022

Contents:

1. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR (CIF) - 2022
2. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR (FOB) - 2022
3. Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR
4. Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR (CIF) - 2022

In 2022, the average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $399 per ton, with an increase of 398% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $405 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($3,655 per ton), while the price for Indonesia totaled $399 per ton.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4,773.3%).

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $264 per ton, declining by -14.8% against the previous year. Overall, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when the average export price decreased by -1.6% against the previous year. Over the period under review, the average export prices reached the peak figure at $1,872 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Spain.

From 2012 to 2022, the rate of growth in terms of prices for Portugal amounted to +922.9% per year.

Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR

In 2022, the amount of residues; of petroleum oils or of oils obtained from bituminous mineralses imported into Hong Kong SAR surged to 21K tons, rising by 714% compared with the previous year's figure. Overall, imports, however, faced a precipitous setback.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses surged to $8.2M in 2022. Over the period under review, imports, however, recorded a dramatic decline.

Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to Hong Kong SAR in 2022:

1. Indonesia (20.5K tons)

Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Hong Kong SAR

For the third consecutive year, Hong Kong SAR recorded decline in shipments abroad of residues; of petroleum oils or of oils obtained from bituminous mineralses, which decreased by -2.1% to 516 kg in 2022. In general, exports showed a precipitous shrinkage.

In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses fell rapidly to $136 in 2022. Over the period under review, exports continue to indicate a sharp descent.

Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from Hong Kong SAR in 2022:

1. Spain (516.0 kg)

Source: IndexBox Market Intelligence Platform