Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines - 2023

Contents:

1. Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines (CIF) - 2023
2. Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines (FOB) - 2022
3. Imports of Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines
4. Exports of Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines

Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines (CIF) - 2023

In December 2023, the average import price for alloy steel flat-rolled products, of a width 600mm or mores amounted to $1,139 per ton, picking up by 9.1% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in June 2023 when the average import price increased by 64% against the previous month. As a result, import price reached the peak level of $1,525 per ton. From July 2023 to December 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($1,570 per ton), while the price for China ($742 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines (FOB) - 2022

The average export price for alloy steel flat-rolled products, of a width 600mm or mores stood at $1,490 per ton in 2022, jumping by 71% against the previous year. Overall, the export price posted mild growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 101%. The export price peaked at $2,531 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($6,594 per ton), while the average price for exports to Singapore ($469 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 Thailand (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines

For the third consecutive year, the Philippines recorded decline in purchases abroad of alloy steel flat-rolled products, of a width 600mm or mores, which decreased by -78.1% to 45K tons in 2022. In general, imports recorded a significant decline. The smallest decline of -4.8% was in 2021.

In value terms, imports of alloy steel flat-rolled products, of a width 600mm or mores declined sharply to $49M in 2022. Over the period under review, imports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 30%.

Top Suppliers of Alloy Steel Flat-Rolled Products, of A Width 600mm or More to the Philippines in 2022:

1. China (21.2K tons)
2. Japan (20.4K tons)
3. Taiwan (Chinese) (1.7K tons)

Exports of Alloy Steel Flat-Rolled Products, of A Width 600mm or More in the Philippines

In 2022, after three years of growth, there was significant decline in overseas shipments of alloy steel flat-rolled products, of a width 600mm or mores, when their volume decreased by -11.8% to 1K tons. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 1,922%. As a result, the exports attained the peak of 1.2K tons, and then dropped in the following year.

In value terms, exports of alloy steel flat-rolled products, of a width 600mm or mores soared to $1.6M in 2022. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2021 when exports increased by 596%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in years to come.

Top Export Markets for Alloy Steel Flat-Rolled Products, of A Width 600mm or More from the Philippines in 2022:

1. Hong Kong SAR (386.4 tons)
2. China (254.8 tons)
3. Taiwan (Chinese) (134.9 tons)
4. Mexico (131.1 tons)
5. Singapore (75.8 tons)
6. Thailand (59.0 tons)

Source: IndexBox Market Intelligence Platform