Copper Wire Price in the Philippines - 2023
Contents:
- Copper Wire Price in the Philippines (CIF) - 2022
- Copper Wire Price in the Philippines (FOB) - 2022
- Copper Wire Imports in the Philippines
- Copper Wire Exports in the Philippines
Copper Wire Price in the Philippines (CIF) - 2022
In 2022, the average copper wire import price amounted to $7,950 per ton, increasing by 9.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 48%. Over the period under review, average import prices attained the maximum at $8,011 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($33,864 per ton), while the price for China ($4,286 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Copper Wire Price in the Philippines (FOB) - 2022
In 2022, the average copper wire export price amounted to $3,721 per ton, shrinking by -28% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 146% against the previous year. As a result, the export price attained the peak level of $11,775 per ton. From 2018 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($12,543 per ton), while the average price for exports to Malaysia ($237 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 Taiwan (Chinese) (+0.2%), while the prices for the other major destinations experienced a decline.
Copper Wire Imports in the Philippines
In 2022, imports of copper wires into the Philippines contracted to 56K tons, declining by -13.5% on the previous year's figure. The total import volume increased at an average annual rate of +1.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 53%. As a result, imports reached the peak of 64K tons, and then dropped in the following year.
In value terms, copper wire imports reduced to $443M in 2022. In general, imports, however, recorded significant growth. The growth pace was the most rapid in 2021 when imports increased by 126% against the previous year. As a result, imports reached the peak of $467M, and then declined in the following year.
| Import of Copper Wire in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 32.1 | 31.8 | 135 | 140 | 63.4% |
| South Korea | 57.1 | 41.6 | 66.2 | 71.2 | 7.6% |
| China | 19.7 | 17.1 | 42.8 | 54.6 | 40.5% |
| Malaysia | 16.8 | 14.4 | 34.3 | 29.4 | 20.5% |
| Indonesia | 21.6 | 18.9 | 35.7 | 26.3 | 6.8% |
| Taiwan (Chinese) | 18.0 | 17.1 | 24.9 | 23.1 | 8.7% |
| United Arab Emirates | 18.2 | 20.8 | 54.6 | 19.1 | 1.6% |
| Others | 53.8 | 45.1 | 73.5 | 79.0 | 13.7% |
| Total | 237 | 207 | 467 | 443 | 23.2% |
Top Suppliers of Copper Wire to the Philippines in 2022:
- South Korea (16.1K tons)
- Thailand (13.9K tons)
- China (12.7K tons)
- Malaysia (2.9K tons)
- Taiwan (Chinese) (2.7K tons)
- Indonesia (2.6K tons)
- United Arab Emirates (1.9K tons)
Copper Wire Exports in the Philippines
In 2022, copper wire exports from the Philippines dropped dramatically to 4.4K tons, shrinking by -42.5% on the year before. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 359% against the previous year. As a result, the exports attained the peak of 7.6K tons, and then contracted dramatically in the following year.
In value terms, copper wire exports contracted dramatically to $16M in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 376% against the previous year. As a result, the exports reached the peak of $39M, and then reduced notably in the following year.
| Export of Copper Wire in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.7 | N/A | 34.6 | 9.4 | 137.7% |
| Japan | 7.9 | 7.2 | 3.0 | 5.3 | -12.5% |
| Indonesia | N/A | 0.5 | 0.6 | 0.4 | -10.6% |
| South Korea | 0.9 | N/A | 0.2 | 0.4 | -23.7% |
| Thailand | 0.2 | N/A | N/A | 0.2 | 0.0% |
| Malaysia | 0.2 | 0.3 | 0.3 | 0.1 | -20.6% |
| Others | 1.6 | 0.1 | 0.5 | 0.3 | -42.8% |
| Total | 11.5 | 8.2 | 39.2 | 16.2 | 12.1% |
Top Export Markets for Copper Wire from the Philippines in 2022:
- China (1326.9 tons)
- Indonesia (1016.4 tons)
- Thailand (966.0 tons)
- Malaysia (509.8 tons)
- Japan (423.4 tons)
- South Korea (88.2 tons)
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