Report Update Apr 1, 2024

Hong Kong SAR, China - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Iron And Steel Market 2024

Iron And Steel Market Size in Hong Kong SAR, China

The Hong Kong iron and steel market skyrocketed to $X in 2021, rising by 67% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a significant increase. Iron and steel consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Iron And Steel Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of iron and steel were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2015 when exports increased by 286% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron and steel exports soared to $X in 2021. In general, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 247%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Bolivia (X tons), Indonesia (X tons) and Colombia (X tons) were the main destinations of iron and steel exports from Hong Kong SAR, with a combined 61% share of total exports. Peru, Malaysia, Denmark and Panama lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +4,526.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Bolivia ($X) and Denmark ($X) were the largest markets for iron and steel exported from Hong Kong SAR worldwide, together accounting for 35% of total exports. Panama, Malaysia, Colombia and Peru lagged somewhat behind, together comprising a further 13%.

In terms of the main countries of destination, Peru, with a CAGR of +2,342.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, jumping by 122% against the previous year. Over the period under review, the export price recorded notable growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+216.2%), while the prices for the other major destinations experienced mixed trend patterns.

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Iron And Steel Imports

Imports into Hong Kong SAR, China

For the fifth year in a row, Hong Kong SAR recorded growth in supplies from abroad of iron and steel, which increased by 81% to X tons in 2021. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 983%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, iron and steel imports surged to $X in 2021. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 461% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) was the main iron and steel supplier to Hong Kong SAR, with a approx. 98% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil totaled +58.9%.

In value terms, Brazil ($X) constituted the largest supplier of iron and steel to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to +32.9%.

Import Prices by Country

In 2021, the average iron and steel import price amounted to $X per ton, waning by -25.9% against the previous year. Over the period under review, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 58%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to +137.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron and steel in the world?

The country with the largest volume of iron and steel consumption was China, accounting for 64% of total volume. Moreover, iron and steel consumption in China exceeded the figures recorded by the second-largest consumer, Japan, more than tenfold. The third position in this ranking was taken by India, with a 5.8% share.

What are the largest producers of iron and steel in the world?

China remains the largest iron and steel producing country worldwide, accounting for 63% of total volume. Moreover, iron and steel production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. Japan ranked third in terms of total production with a 5.9% share.

What are the leading suppliers of iron and steel to Hong Kong SAR, China?

In value terms, Brazil constituted the largest supplier of iron and steel to Hong Kong SAR.

What are the leading importers of iron and steel from Hong Kong SAR, China?

In value terms, Indonesia, Bolivia and Denmark appeared to be the largest markets for iron and steel exported from Hong Kong SAR worldwide, together comprising 35% of total exports. These countries were followed by Panama, Malaysia, Colombia and Peru, which together accounted for a further 13%.

What is the average export price for iron and steel in Hong Kong SAR, China?

In 2021, the average iron and steel export price amounted to $5,550 per ton, surging by 122% against the previous year.

What is the average import price for iron and steel in Hong Kong SAR, China?

The average iron and steel import price stood at $144 per ton in 2021, shrinking by -25.9% against the previous year.

This report provides an in-depth analysis of the iron and steel market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023