Report Update: May 1, 2024

Hong Kong SAR, China - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights

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Steel Stranded Wire Price in Hong Kong SAR - 2023

Steel Stranded Wire Price in Hong Kong SAR (CIF) - 2023

The average steel stranded wire import price stood at $4,012 per ton in August 2023, dropping by -6.3% against the previous month. In general, import price indicated a modest increase from August 2022 to August 2023: its price increased at an average monthly rate of +1.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, steel stranded wire import price increased by +45.5% against June 2023 indices. The growth pace was the most rapid in July 2023 when the average import price increased by 55% month-to-month. The import price peaked at $5,439 per ton in October 2022; however, from November 2022 to August 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Japan ($8,025 per ton), while the price for China ($1,142 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Steel Stranded Wire Price in Hong Kong SAR (FOB) - 2022

In 2022, the average steel stranded wire export price amounted to $12,136 per ton, approximately mirroring the previous year. Over the period under review, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel stranded wire export price increased by +68.3% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 70%. The export price peaked at $15,304 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($84,172 per ton), while the average price for exports to Macao SAR ($2,747 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports in Hong Kong SAR

In 2022, supplies from abroad of iron or steel stranded wire, ropes and cables decreased by -6.9% to 12K tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.8% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 17%. As a result, imports attained the peak of 13K tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, steel stranded wire imports surged to $51M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +14.5% 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 +68.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Steel Stranded Wire in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	6.0	4.3	7.8	14.2	33.3%
Japan	6.9	5.5	8.7	10.7	15.7%
China	6.9	7.7	8.4	8.3	6.4%
South Korea	5.7	5.7	5.6	5.7	0.0%
Germany	4.0	4.2	3.4	4.3	2.4%
Netherlands	0.4	0.2	N/A	0.5	7.7%
Others	3.9	2.5	2.7	7.0	21.5%
Total	33.8	30.1	36.7	50.7	14.5%

Top Suppliers of Steel Stranded Wire to Hong Kong SAR in 2022:

China (5.9K tons)
South Korea (2.5K tons)
Japan (1.8K tons)
Germany (0.8K tons)
Thailand (0.4K tons)
Netherlands (0.2K tons)

Steel Stranded Wire Exports in Hong Kong SAR

In 2022, the amount of iron or steel stranded wire, ropes and cables exported from Hong Kong SAR skyrocketed to 1.9K tons, growing by 61% against 2021. Over the period under review, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, steel stranded wire exports skyrocketed to $23M in 2022. In general, exports showed a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 129%. The exports peaked in 2022 and are expected to retain growth in the near future.

Export of Steel Stranded Wire in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	4.9	2.1	5.4	14.5	43.6%
Vietnam	2.2	0.7	2.2	2.4	2.9%
United States	2.1	0.3	0.8	1.1	-19.4%
Singapore	0.2	0.4	0.4	0.5	35.7%
Macao SAR	0.5	0.4	0.7	0.5	0.0%
Others	3.9	2.5	4.8	3.9	0.0%
Total	13.8	6.3	14.3	22.8	18.2%

Top Export Markets for Steel Stranded Wire from Hong Kong SAR in 2022:

China (1347.8 tons)
Macao SAR (180.0 tons)
Singapore (162.3 tons)
Vietnam (58.2 tons)
United States (18.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel stranded wire 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:

Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)

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