Report Update: May 1, 2024

Philippines - Pig Iron And Spiegeleisen - Market Analysis, Forecast, Size, Trends and Insights

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Pig Iron Price in the Philippines - 2023

Pig Iron Price in the Philippines (CIF) - 2022

In 2022, the average pig iron import price amounted to $1,253 per ton, with an increase of 52% against the previous year. Overall, the import price recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 147%. As a result, import price reached the peak level of $1,331 per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($995 per ton), while the price for China ($562 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Pig Iron Price in the Philippines (FOB) - 2022

The average pig iron export price stood at $1,055 per ton in 2022, remaining constant against the previous year. Over the period under review, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 167% against the previous year. Over the period under review, the average export prices attained the peak figure at $4,987 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +2.5% per year.

Pig Iron Imports in the Philippines

Pig iron imports into the Philippines reduced to 1K tons in 2022, with a decrease of -10.1% compared with 2021 figures. In general, imports saw a abrupt descent. The pace of growth was the most pronounced in 2021 when imports increased by 85% against the previous year.

In value terms, pig iron imports soared to $1.3M in 2022. Over the period under review, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 178% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Pig Iron in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	336	32.1	415	999	43.8%
China	80.5	55.1	39.9	159	25.5%
Taiwan (Chinese)	51.5	13.2	64.2	107	27.6%
South Korea	87.4	28.7	36.9	32.0	-28.5%
Hong Kong SAR	42.8	22.4	46.1	N/A	3.8%
Russia	254	142	313	N/A	11.0%
Others	39.1	50.0	40.0	8.8	-39.2%
Total	891	344	956	1,306	13.6%

Top Suppliers of Pig Iron to the Philippines in 2022:

Japan (1004.2 tons)
China (283.4 tons)
Taiwan (Chinese) (150.0 tons)
South Korea (18.8 tons)

Pig Iron Exports in the Philippines

For the third consecutive year, the Philippines recorded decline in overseas shipments of pig iron and spiegeleisen, which decreased by -61.4% to 19 tons in 2022. Overall, exports recorded a sharp decrease. The smallest decline of -31.7% was in 2021.

In value terms, pig iron exports reduced dramatically to $20K in 2022. In general, exports saw a sharp decrease. The growth pace was the most rapid in 2020 with an increase of 5.5% against the previous year. As a result, the exports attained the peak of $76K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Pig Iron in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	22.1	2.8	3.3	0.6	-69.9%
Japan	15.8	20.6	29.9	N/A	37.6%
Thailand	0.3	44.3	N/A	N/A	14666.7%
Taiwan (Chinese)	33.6	8.0	18.2	N/A	-26.4%
Others	N/A	N/A	N/A	19.2	0%
Total	71.8	75.8	51.5	19.9	-34.8%

Top Export Markets for Pig Iron from the Philippines in 2022:

China (0.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the pig iron market in the Philippines. 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 24101100 - Pig iron and spiegeleisen in pigs, blocks or other primary forms

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
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
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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
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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