Price for Copper; Refined, Unwrought, Wire-Bars in the Philippines - 2023

Price for Copper; Refined, Unwrought, Wire-Bars in the Philippines (CIF) - 2022

In 2022, the average copper; refined, unwrought, wire-bars import price amounted to $9,371 per ton, shrinking by -10% against the previous year. In general, the import price, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by 315% against the previous year. The import price peaked at $24,572 per ton in 2017; however, from 2018 to 2022, import prices remained at a 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 China ($15,000 per ton), while the price for the United States ($3,100 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+44.3%), while the prices for the other major suppliers experienced a decline.

Imports of Copper; Refined, Unwrought, Wire-Bars in the Philippines

In 2022, purchases abroad of copper; refined, unwrought, wire-barses increased by 4.3% to 170 kg for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, faced a dramatic contraction.

In value terms, copper; refined, unwrought, wire-bars imports fell to $1.6K in 2022. Over the period under review, imports, however, continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2021 when imports increased by 14%.