Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines - 2023
Contents:
- Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines (CIF) - 2022
- Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines (FOB) - 2022
- Imports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines
- Exports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines
Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines (CIF) - 2022
In 2022, the average import price for iron or steel; non-threaded cotters and cotter-pinses amounted to $23,189 per ton, with an increase of 7.2% against the previous year. In general, the import price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 an increase of 55%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($125,722 per ton), while the price for Vietnam ($4,599 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines (FOB) - 2022
The average export price for iron or steel; non-threaded cotters and cotter-pinses stood at $11,942 per ton in 2022, falling by -13.6% against the previous year. Overall, the export price, however, recorded strong growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 205% against the previous year. Over the period under review, the average export prices reached the maximum at $24,471 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($15,500 per ton), while the average price for exports to Indonesia ($11,532 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 Thailand (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines
In 2022, approx. 80 tons of iron or steel; non-threaded cotters and cotter-pinses were imported into the Philippines; which is down by -25.4% against 2021 figures. Over the period under review, imports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. As a result, imports attained the peak of 108 tons, and then plummeted in the following year.
In value terms, imports of iron or steel; non-threaded cotters and cotter-pinses dropped sharply to $1.9M in 2022. In general, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 62% against the previous year. As a result, imports reached the peak of $2.3M, and then contracted rapidly in the following year.
| Import of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 379 | 243 | 425 | 613 | 17.4% |
| United States | 292 | 432 | 800 | 401 | 11.2% |
| China | 76.7 | 66.4 | 330 | 319 | 60.8% |
| Hong Kong SAR | 2.6 | 26.4 | 106 | 182 | 312.1% |
| Taiwan (Chinese) | 23.0 | 45.3 | 17.5 | 82.7 | 53.2% |
| Singapore | 61.2 | 44.0 | 341 | 31.0 | -20.3% |
| South Korea | 80.3 | 116 | 47.8 | 27.2 | -30.3% |
| Thailand | 57.5 | 291 | 59.9 | 26.6 | -22.7% |
| Vietnam | 0.2 | 0.4 | 28.3 | 24.9 | 399.3% |
| India | 0.8 | 2.4 | 10.9 | 17.3 | 178.6% |
| Others | 200 | 170 | 163 | 138 | -11.6% |
| Total | 1,173 | 1,437 | 2,329 | 1,862 | 16.7% |
Top Suppliers of Iron or Steel; Non-Threaded Cotters and Cotter-Pins to the Philippines in 2022:
- Japan (22.4 tons)
- China (21.5 tons)
- Taiwan (Chinese) (8.0 tons)
- Hong Kong SAR (7.2 tons)
- Vietnam (5.4 tons)
- United States (3.2 tons)
- India (2.8 tons)
- Thailand (2.5 tons)
- South Korea (2.4 tons)
- Singapore (0.6 tons)
Exports of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines
Exports of iron or steel; non-threaded cotters and cotter-pinses from the Philippines shrank significantly to 3.1 tons in 2022, waning by -78.7% against the year before. In general, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 705%. As a result, the exports attained the peak of 14 tons, and then fell sharply in the following year.
In value terms, exports of iron or steel; non-threaded cotters and cotter-pinses reduced sharply to $37K in 2022. Overall, exports continue to indicate a dramatic setback. The growth pace was the most rapid in 2021 with an increase of 2,052%. As a result, the exports attained the peak of $199K, and then dropped dramatically in the following year.
| Export of Iron or Steel; Non-Threaded Cotters and Cotter-Pins in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 91.7 | N/A | N/A | 28.2 | -32.5% |
| Japan | 7.8 | 0.5 | N/A | 7.7 | -0.4% |
| Thailand | 3.4 | 7.0 | 8.1 | 0.1 | -69.1% |
| China | N/A | N/A | 181 | N/A | 0% |
| Others | 11.2 | 1.7 | 9.7 | 0.7 | -60.3% |
| Total | 114 | 9.2 | 199 | 36.6 | -31.5% |
Top Export Markets for Iron or Steel; Non-Threaded Cotters and Cotter-Pins from the Philippines in 2022:
- Indonesia (2442.0 kg)
- Japan (600.0 kg)
- Thailand (4.0 kg)
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