Price for Copper Tube or Pipe Fitting in the Philippines - 2023

Contents:

1. Price for Copper Tube or Pipe Fitting in the Philippines (CIF) - 2022
2. Price for Copper Tube or Pipe Fitting in the Philippines (FOB) - 2022
3. Imports of Copper Tube or Pipe Fitting in the Philippines
4. Exports of Copper Tube or Pipe Fitting in the Philippines

Price for Copper Tube or Pipe Fitting in the Philippines (CIF) - 2022

The average import price for tube or pipe fittings, couplings, elbows, sleeves of refined copper stood at $8,144 per ton in 2022, increasing by 9.7% against the previous year. Over the period under review, the import price posted strong growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 74%. The import price peaked at $9,644 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($30,922 per ton), while the price for South Korea ($3,581 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Copper Tube or Pipe Fitting in the Philippines (FOB) - 2022

The average export price for tube or pipe fittings, couplings, elbows, sleeves of refined copper stood at $5,523 per ton in 2022, which is down by -21.3% against the previous year. Overall, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 191% against the previous year. Over the period under review, the average export prices reached the maximum at $23,695 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($22,250 per ton), while the average price for exports to South Korea ($2,780 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 Singapore (+7.8%), while the prices for the other major destinations experienced a decline.

Imports of Copper Tube or Pipe Fitting in the Philippines

In 2022, the amount of tube or pipe fittings, couplings, elbows, sleeves of refined copper imported into the Philippines shrank notably to 320 tons, declining by -46% compared with the previous year. In general, imports continue to indicate a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 101%. As a result, imports reached the peak of 593 tons, and then fell remarkably in the following year.

In value terms, copper tube or pipe fitting imports fell dramatically to $2.6M in 2022. Overall, imports showed a perceptible curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 55% against the previous year. As a result, imports reached the peak of $4.4M, and then shrank rapidly in the following year.

Top Suppliers of Copper Tube or Pipe Fitting to the Philippines in 2022:

1. China (125.0 tons)
2. Japan (103.3 tons)
3. South Korea (77.7 tons)
4. Vietnam (8.8 tons)
5. Singapore (0.2 tons)

Exports of Copper Tube or Pipe Fitting in the Philippines

In 2022, approx. 1.6 tons of tube or pipe fittings, couplings, elbows, sleeves of refined copper were exported from the Philippines; growing by 28% compared with the previous year's figure. The total export volume increased at an average annual rate of +7.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper tube or pipe fitting exports totaled $8.7K in 2022. Over the period under review, exports, however, recorded a abrupt decrease.

Top Export Markets for Copper Tube or Pipe Fitting from the Philippines in 2022:

1. South Korea (1370.0 kg)
2. Japan (181.0 kg)
3. China (18.0 kg)

Source: IndexBox Market Intelligence Platform