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

Contents:

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

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

In July 2023, the average import price for alloy steel flat-rolled products, of a width of less than 600mms amounted to $1,775 per ton, declining by -41.9% against the previous month. Over the period under review, the import price showed a drastic downturn. The most prominent rate of growth was recorded in June 2023 an increase of 101% against the previous month. Over the period under review, average import prices hit record highs at $3,613 per ton in January 2023; however, from February 2023 to July 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was China ($2,400 per ton), while the price for Japan totaled $1,177 per ton.

From December 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+71.4%), while the prices for the other major suppliers experienced a decline.

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

The average export price for alloy steel flat-rolled products, of a width of less than 600mms stood at $865 per ton in 2022, surging by 30% against the previous year. Overall, the export price, however, continues to indicate a deep setback. The growth pace was the most rapid in 2019 an increase of 83%. The export price peaked at $3,622 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($872 per ton), while the average price for exports to Hong Kong SAR totaled $800 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.4%).

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

In 2022, imports of alloy steel flat-rolled products, of a width of less than 600mms into the Philippines skyrocketed to 7.5K tons, picking up by 40% on 2021. Overall, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +6.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 47% against the previous year. As a result, imports reached the peak of 9.2K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of alloy steel flat-rolled products, of a width of less than 600mms soared to $16M in 2022. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 85%. As a result, imports attained the peak of $25M. From 2021 to 2022, the growth of imports of remained at a lower figure.

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

1. China (3.9K tons)
2. Japan (3.5K tons)
3. Vietnam (0.1K tons)

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

In 2022, shipments abroad of alloy steel flat-rolled products, of a width of less than 600mms decreased by -56.3% to 985 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 4,757%. As a result, the exports reached the peak of 2.5K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of alloy steel flat-rolled products, of a width of less than 600mms fell remarkably to $852K in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 1,577% against the previous year.

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

1. China (856.7 tons)
2. Hong Kong SAR (128.4 tons)

Source: IndexBox Market Intelligence Platform