Price for Ferrous Waste and Scrap; of Stainless Steel in the Philippines - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Stainless Steel in the Philippines (FOB) - 2023
- Price for Ferrous Waste and Scrap; of Stainless Steel in the Philippines (CIF) - 2022
- Exports of Ferrous Waste and Scrap; of Stainless Steel in the Philippines
- Imports of Ferrous Waste and Scrap; of Stainless Steel in the Philippines
Price for Ferrous Waste and Scrap; of Stainless Steel in the Philippines (FOB) - 2023
The average export price for ferrous waste and scrap; of stainless steels stood at $1,400 per ton in December 2023, rising by 29% against the previous month. Overall, the export price saw resilient growth. The pace of growth was the most pronounced in March 2023 an increase of 63% against the previous month. Over the period under review, the average export prices hit record highs at $1,681 per ton in September 2023; however, from October 2023 to December 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($2,977 per ton), while the average price for exports to Vietnam ($750 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+46.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; of Stainless Steel in the Philippines (CIF) - 2022
The average import price for ferrous waste and scrap; of stainless steels stood at $4,835 per ton in 2022, jumping by 24% against the previous year. Over the period under review, the import price posted a buoyant expansion. The growth pace was the most rapid in 2013 an increase of 86%. The import price peaked in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($5,657 per ton), while the price for China ($3,741 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; of Stainless Steel in the Philippines
In 2022, approx. 34K tons of ferrous waste and scrap; of stainless steels were exported from the Philippines; with a decrease of -17.3% on the previous year's figure. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 48%.
In value terms, exports of ferrous waste and scrap; of stainless steels declined rapidly to $21M in 2022. Overall, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 92%. As a result, the exports attained the peak of $33M, and then dropped remarkably in the following year.
| Export of Ferrous Waste and Scrap; of Stainless Steel in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.8 | 11.2 | 18.4 | 8.8 | 122.4% |
| South Korea | 1.1 | 1.4 | 4.4 | 4.0 | 53.8% |
| Thailand | 3.1 | 0.4 | 1.0 | 2.9 | -2.2% |
| Taiwan (Chinese) | 2.6 | 2.2 | 4.0 | 2.3 | -4.0% |
| China | 0.3 | 0.4 | 0.2 | 1.3 | 63.0% |
| Malaysia | 0.3 | 0.2 | 0.8 | 0.7 | 32.6% |
| Bangladesh | 0.1 | N/A | 0.7 | 0.6 | 81.7% |
| Vietnam | 4.6 | 1.3 | 3.4 | N/A | -14.0% |
| Indonesia | 1.3 | 0.1 | 0.2 | N/A | -60.8% |
| Others | 0.2 | 0.1 | 0.2 | 0.2 | 0.0% |
| Total | 14.4 | 17.3 | 33.2 | 20.8 | 13.0% |
Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from the Philippines in 2022:
- India (9.9K tons)
- South Korea (8.0K tons)
- Taiwan (Chinese) (6.0K tons)
- Thailand (5.5K tons)
- China (1.9K tons)
- Malaysia (1.5K tons)
- Bangladesh (1.3K tons)
Imports of Ferrous Waste and Scrap; of Stainless Steel in the Philippines
In 2022, purchases abroad of ferrous waste and scrap; of stainless steels decreased by -20.3% to 2.7K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 256%. As a result, imports attained the peak of 3.4K tons, and then contracted notably in the following year.
In value terms, imports of ferrous waste and scrap; of stainless steels shrank modestly to $13M in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 260%. As a result, imports reached the peak of $13M, and then declined in the following year.
| Import of Ferrous Waste and Scrap; of Stainless Steel in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 0.6 | 1.6 | 6.9 | 7.1 | 127.9% |
| China | 1.0 | 1.1 | 5.8 | 4.7 | 67.5% |
| Japan | 0.3 | 0.1 | 0.3 | 0.5 | 18.6% |
| Hong Kong SAR | N/A | N/A | N/A | 0.2 | 0% |
| Others | 0.3 | 0.8 | 0.2 | 0.6 | 26.0% |
| Total | 2.1 | 3.7 | 13.3 | 13.1 | 84.1% |
Top Suppliers of Ferrous Waste and Scrap; of Stainless Steel to the Philippines in 2022:
- Taiwan (Chinese) (1252.0 tons)
- China (1249.5 tons)
- Japan (114.9 tons)
- Hong Kong SAR (41.0 tons)
390
This report provides an in-depth analysis of the market for metal remelting scrap ingots in the Philippines.
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This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
390
This report provides an in-depth analysis of the market for metal remelting scrap ingots in the Philippines.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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