Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines (FOB) - 2022
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines (CIF) - 2022
- Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines
- Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines
Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines (FOB) - 2022
In 2022, the average export price for ferrous waste and scrap; of tinned iron or steels amounted to $229 per ton, with an increase of 3.1% against the previous year. Overall, the export price continues to indicate a mild expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices hit record highs at $294 per ton in 2020; however, from 2021 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 Japan ($605 per ton), while the average price for exports to Bangladesh ($132 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 Pakistan (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines (CIF) - 2022
The average import price for ferrous waste and scrap; of tinned iron or steels stood at $375 per ton in 2022, with an increase of 9.9% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2015 when the average import price increased by 664%. As a result, import price attained the peak level of $3,896 per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($1,224 per ton), while the price for Japan ($237 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+54.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines
In 2022, the amount of ferrous waste and scrap; of tinned iron or steels exported from the Philippines soared to 77K tons, jumping by 88% against the year before. Overall, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of ferrous waste and scrap; of tinned iron or steels surged to $18M in 2022. In general, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 1.8 | 2.4 | 3.7 | 6.3 | 51.8% |
| Bangladesh | 0.2 | 1.3 | 0.5 | 4.1 | 173.7% |
| Taiwan (Chinese) | 1.9 | 0.9 | 1.7 | 2.8 | 13.8% |
| Japan | N/A | N/A | 0.1 | 1.8 | 1700.0% |
| India | 0.5 | 0.5 | 1.1 | 1.1 | 30.1% |
| China | 1.9 | 6.1 | 0.3 | 0.8 | -25.0% |
| Singapore | 0.1 | 0.1 | 0.2 | 0.6 | 81.7% |
| Thailand | 0.7 | 0.1 | 1.3 | 0.2 | -34.1% |
| Malaysia | 0.7 | 0.4 | N/A | 0.1 | -47.7% |
| Vietnam | 2.0 | 0.2 | N/A | N/A | -90.0% |
| Others | 0.9 | 2.0 | 0.2 | N/A | -52.9% |
| Total | 10.7 | 13.9 | 9.2 | 17.8 | 18.5% |
Top Export Markets for Ferrous Waste and Scrap; of Tinned Iron or Steel from the Philippines in 2022:
- Bangladesh (30.8K tons)
- South Korea (22.7K tons)
- Taiwan (Chinese) (10.7K tons)
- Singapore (3.6K tons)
- Japan (3.1K tons)
- India (3.1K tons)
- China (2.7K tons)
- Malaysia (0.5K tons)
- Thailand (0.3K tons)
- Vietnam (0.1K tons)
Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines
In 2022, after three years of growth, there was significant decline in overseas purchases of ferrous waste and scrap; of tinned iron or steels, when their volume decreased by -71.3% to 468 tons. Over the period under review, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 150% against the previous year. As a result, imports attained the peak of 1.6K tons, and then reduced rapidly in the following year.
In value terms, imports of ferrous waste and scrap; of tinned iron or steels dropped notably to $176K in 2022. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 when imports increased by 222%. As a result, imports attained the peak of $557K, and then shrank markedly in the following year.
| Import of Ferrous Waste and Scrap; of Tinned Iron or Steel in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 36.3 | 23.0 | 155 | 138 | 56.1% |
| Singapore | 1.1 | N/A | 0.3 | 24.5 | 181.4% |
| Japan | 3.7 | 30.5 | 27.3 | 12.4 | 49.6% |
| United States | 6.5 | 90.7 | 37.2 | 0.8 | -50.3% |
| South Korea | 151 | 16.2 | 15.3 | N/A | -68.2% |
| Vietnam | 53.5 | 12.7 | N/A | N/A | -76.3% |
| Taiwan (Chinese) | N/A | N/A | 322 | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 252 | 173 | 557 | 176 | -11.3% |
Top Suppliers of Ferrous Waste and Scrap; of Tinned Iron or Steel to the Philippines in 2022:
- China (393.8 tons)
- Japan (52.4 tons)
- Singapore (20.0 tons)
- United States (2.1 tons)
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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.
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in the Philippines.
701
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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