Price of Woolen Yarn in Hong Kong Decreases by 3%

Hong Kong Woolen Yarn Import Price in May 2023

In May 2023, the price of woolen yarn in Hong Kong reached $44,602 per ton (CIF, Hong Kong), showing a decrease of 2.8% compared to the previous month. Overall, there was a noticeable decline in import prices. The highest growth rate was observed in January 2023 with a 39% increase month-on-month. The import price reached its peak at $58,953 per ton in May 2022, but from June 2022 to May 2023, it remained at a slightly lower level.

Among the major supplying countries, average prices varied. In May 2023, Italy had the highest price of $53,219 per ton, followed by Japan at $48,543 per ton. On the other hand, South Korea had the lowest price at $36,103 per ton, followed by China at $38,134 per ton.

From May 2022 to May 2023, Italy experienced the most notable price growth (+0.8%), while the prices of other major suppliers declined.

Hong Kong Woolen Yarn Import Prices by Type

There were significant price differences among the major supplied products. In May 2023, the product with the highest price was yarn of fine animal hair (carded or combed), not put up for retail sale, which cost $107,000 per ton. On the other hand, the price for yarn of combed wool, not put up for retail sale, was one of the lowest at $32,710 per ton.

From May 2022 to May 2023, yarn of coarse animal hair or of horsehair (including gimped horsehair yarn), whether or not put up for retail sale, showed no notable price change (0.0%), while the prices of other products declined.

Hong Kong Woolen Yarn Imports

In May 2023, Hong Kong imported 295 tons of yarn of wool from abroad, which marked a decrease of 29.5% compared to the previous month. This was the second consecutive month of decline after two months of growth. In general, imports continued to show a noticeable downward trend. The highest growth rate was recorded in February 2023 with a 98% increase month-on-month.

By value, woolen yarn imports rapidly dropped to $13 million in May 2023, according to IndexBox estimates. Imports experienced a significant setback during the review period, with the highest growth rate occurring in February 2023 with a 97% increase compared to the previous month.

Hong Kong Woolen Yarn Imports by Type

The main products imported to Hong Kong were yarn of combed wool, not put up for retail sale (132 tons), yarn of carded wool, not put up for retail sale (120 tons), and yarn of fine animal hair (carded or combed), not put up for retail sale (42 tons), accounting for 100% of total imports.

From May 2022 to May 2023, yarn of carded wool, not put up for retail sale, showed the highest increase with a CAGR of -0.2%, while purchases of other products declined.

In value terms, yarn of fine animal hair (carded or combed), not put up for retail sale ($4.5 million), yarn of combed wool, not put up for retail sale ($4.3 million), and yarn of carded wool, not put up for retail sale ($4.3 million) were the most imported types of yarn of wool in Hong Kong, accounting for a combined 100% share of total imports.

Hong Kong Woolen Yarn Imports by Country

The main suppliers of woolen yarn imports to Hong Kong were China (153 tons), Italy (118 tons), and South Korea (11 tons), which together accounted for 95% of total imports.

From May 2022 to May 2023, South Korea experienced the highest increase with a CAGR of +3.4%, while purchases from other leading suppliers showed mixed trend patterns.

In value terms, Italy ($6.3 million), China ($5.8 million), and South Korea ($387,000) were the largest woolen yarn suppliers to Hong Kong, accounting for 95% of total imports. South Korea also showed the highest growth in terms of import value, with a CAGR of +2.6% during the review period, while purchases from other leading suppliers exhibited mixed trends.

Source: IndexBox Market Intelligence Platform