Copper Wire Price in Hong Kong SAR - 2023
Contents:
- Copper Wire Price in Hong Kong SAR (CIF) - 2023
- Copper Wire Price in Hong Kong SAR (FOB) - 2023
- Copper Wire Imports in Hong Kong SAR
- Copper Wire Exports in Hong Kong SAR
Copper Wire Price in Hong Kong SAR (CIF) - 2023
The average copper wire import price stood at $9,794 per ton in September 2023, surging by 5.6% against the previous month. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 15% against the previous month. As a result, import price attained the peak level of $11,099 per ton. From February 2023 to September 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($13,805 per ton), while the price for China ($6,977 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Copper Wire Price in Hong Kong SAR (FOB) - 2023
The average copper wire export price stood at $15,946 per ton in September 2023, waning by -6.5% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.2%. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 56% against the previous month. Over the period under review, the average export prices attained the peak figure at $20,757 per ton in December 2022; however, from January 2023 to September 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Indonesia ($48,112 per ton), while the average price for exports to China ($14,733 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.
Copper Wire Imports in Hong Kong SAR
Copper wire imports into Hong Kong SAR soared to 12K tons in 2022, increasing by 35% compared with the previous year's figure. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 63% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, copper wire imports surged to $134M in 2022. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 76%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Copper Wire in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 5.8 | 12.0 | 25.6 | 64.6 | 123.3% |
| China | 19.3 | 16.8 | 27.0 | 30.3 | 16.2% |
| Malaysia | 15.4 | 4.3 | 10.2 | 10.8 | -11.2% |
| Thailand | 6.6 | 7.5 | 11.1 | 9.2 | 11.7% |
| Japan | 3.9 | 3.5 | 6.4 | 4.5 | 4.9% |
| Taiwan (Chinese) | 3.2 | 3.5 | 7.2 | 4.3 | 10.4% |
| South Korea | 1.2 | 1.0 | 2.1 | 4.0 | 49.4% |
| Germany | 4.8 | 4.3 | 5.3 | 3.3 | -11.7% |
| Others | 5.0 | 2.9 | 3.5 | 3.1 | -14.7% |
| Total | 65.2 | 55.8 | 98.3 | 134 | 27.1% |
Top Suppliers of Copper Wire to Hong Kong SAR in 2022:
- Indonesia (7.3K tons)
- China (2.1K tons)
- Malaysia (1.1K tons)
- Thailand (0.8K tons)
- Taiwan (Chinese) (0.4K tons)
- South Korea (0.4K tons)
- Japan (0.3K tons)
- Germany (0.1K tons)
Copper Wire Exports in Hong Kong SAR
Copper wire exports from Hong Kong SAR expanded notably to 3.4K tons in 2022, with an increase of 6.9% against the previous year's figure. Overall, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 20%.
In value terms, copper wire exports expanded modestly to $51M in 2022. Over the period under review, total exports indicated a perceptible expansion from 2019 to 2022: its value increased at an average annual rate of +3.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 54%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.
| Export of Copper Wire in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 39.6 | 25.1 | 40.1 | 32.0 | -6.9% |
| Japan | 1.8 | 3.9 | 5.0 | 9.6 | 74.7% |
| South Korea | N/A | N/A | 0.1 | 3.2 | 3100.0% |
| Philippines | 0.5 | 0.2 | 0.2 | 2.2 | 63.9% |
| Vietnam | 0.2 | 0.1 | 0.4 | 1.2 | 81.7% |
| Malaysia | 1.8 | 1.1 | 1.2 | 0.9 | -20.6% |
| Thailand | 0.1 | 0.5 | 0.1 | 0.6 | 81.7% |
| Sri Lanka | 1.0 | 1.2 | 2.1 | 0.4 | -26.3% |
| Others | 0.7 | 0.3 | 0.8 | 1.4 | 26.0% |
| Total | 45.7 | 32.5 | 49.9 | 51.3 | 3.9% |
Top Export Markets for Copper Wire from Hong Kong SAR in 2022:
- China (2329.5 tons)
- Japan (342.3 tons)
- South Korea (313.9 tons)
- Philippines (157.9 tons)
- Vietnam (66.5 tons)
- Thailand (61.1 tons)
- Malaysia (43.1 tons)
- Sri Lanka (34.0 tons)
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