More often fitted with a hardwood bar to form a rail, rather than the rope seen here, but this is a popular option for stairwells.
Really the best way to hinge a handrail. The non hinged end comprises a tongue and socket to keep the rail secure when closed, and the offset hinge pin allows it to be fully opened.
It is probably only fair to point out that gunmetal is perhaps not the ideal material to make stanchions from. Inevitably they are considerably heavier than the tubular stainless or galvanised ones for a given strength. And they don't come cheap, either. But do they look good.
Not realy a good idea to fit stanchions less than 24" (610 mm) straight onto the deck. If they are too short they will help people trip over the side.