Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines (CIF) - 2024
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines (FOB) - 2022
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines
- Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines (CIF) - 2024
In December 2023, the average import price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses amounted to $1,166 per ton, which is down by -3.4% against the previous month. Over the last eleven months, it increased at an average monthly rate of +3.0%. The most prominent rate of growth was recorded in April 2023 an increase of 16% month-to-month. Over the period under review, average import prices reached the maximum at $1,338 per ton in May 2023; however, from June 2023 to December 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the countries with the highest prices were Vietnam ($1,316 per ton) and China ($1,152 per ton), while the price for Thailand ($1,086 per ton) and Malaysia ($1,118 per ton) were amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by China (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines (FOB) - 2022
The average export price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses stood at $2,943 per ton in 2022, shrinking by -3.6% against the previous year. Over the period under review, the export price saw a drastic downturn. The pace of growth appeared the most rapid in 2021 an increase of 1.4%. Over the period under review, the average export prices reached the maximum at $12,343 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.
From 2015 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to -4.7% per year.
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines
Imports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses into the Philippines soared to 17K tons in 2022, surging by 100% against 2021. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 189% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, imports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses skyrocketed to $17M in 2022. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 182% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.6 | 4.5 | 7.3 | 11.9 | 95.2% |
| Malaysia | 0.5 | 1.7 | 1.8 | 2.7 | 75.4% |
| Vietnam | 0.1 | 1.1 | 2.3 | 1.1 | 122.4% |
| United States | 0.4 | 0.6 | 0.1 | 0.2 | -20.6% |
| South Korea | 0.5 | 0.1 | 0.9 | N/A | 34.2% |
| Indonesia | N/A | 2.5 | 0.1 | N/A | -96.0% |
| Others | 0.8 | 0.5 | 0.3 | 0.6 | -9.1% |
| Total | 3.9 | 11.0 | 12.7 | 16.6 | 62.1% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals to the Philippines in 2022:
- China (14.3K tons)
- Malaysia (1.7K tons)
- Vietnam (0.7K tons)
- United States (0.2K tons)
Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines
In 2022, exports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses from the Philippines plummeted to 9.6 tons, which is down by -84.7% compared with the previous year's figure. In general, exports saw a sharp decrease. The smallest decline of -11% was in 2020.
In value terms, exports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses reduced rapidly to $28K in 2022. Over the period under review, exports showed a precipitous decrease. The smallest decline of -16.5% was in 2021.
| Export of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 290 | 229 | 192 | 28.3 | -54.0% |
| Others | 6.0 | N/A | N/A | N/A | 0% |
| Total | 296 | 229 | 192 | 28.3 | -54.3% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals from the Philippines in 2022:
- Hong Kong SAR (9.6 tons)
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