Price for Iron Ore and Concentrate, Non-Agglomerated in the Philippines - 2023

Contents:

1. Price for Iron Ore and Concentrate, Non-Agglomerated in the Philippines (CIF) - 2023
2. Price for Iron Ore and Concentrate, Non-Agglomerated in the Philippines (FOB) - 2023
3. Imports of Iron Ore and Concentrate, Non-Agglomerated in the Philippines
4. Exports of Iron Ore and Concentrate, Non-Agglomerated in the Philippines

Price for Iron Ore and Concentrate, Non-Agglomerated in the Philippines (CIF) - 2023

The average import price for iron ores and concentrates, non-agglomerated stood at $126 per ton in June 2023, picking up by 27% against the previous month. Overall, the import price, however, saw a mild reduction. The import price peaked at $155 per ton in November 2022; however, from December 2022 to June 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In June 2023, the country with the highest price was Canada ($126 per ton), while the price for Brazil amounted to $126 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Brazil (+0.4%).

Price for Iron Ore and Concentrate, Non-Agglomerated in the Philippines (FOB) - 2023

In June 2023, the average export price for iron ores and concentrates, non-agglomerated amounted to $79.3 per ton, increasing by 1.8% against the previous month. Overall, the export price, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 282% against the previous month. As a result, the export price attained the peak level of $124 per ton. From February 2023 to June 2023, the the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In June 2023, the country with the highest price was Japan ($81.0 per ton), while the average price for exports to China totaled $65.0 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.8%).

Imports of Iron Ore and Concentrate, Non-Agglomerated in the Philippines

In 2022, overseas purchases of iron ores and concentrates, non-agglomerated decreased by -35.1% to 3.5M tons for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 9.5%. As a result, imports attained the peak of 5.4M tons, and then contracted significantly in the following year.

In value terms, iron ore and concentrate, non-agglomerated imports declined dramatically to $564M in 2022. Over the period under review, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 69%. As a result, imports attained the peak of $840M, and then shrank rapidly in the following year.

Top Suppliers of Iron Ore and Concentrate, Non-Agglomerated to the Philippines in 2022:

1. Brazil (3.2M tons)
2. Australia (0.3M tons)

Exports of Iron Ore and Concentrate, Non-Agglomerated in the Philippines

Iron ore and concentrate, non-agglomerated exports from the Philippines soared to 3M tons in 2022, picking up by 159% against the year before. Over the period under review, exports enjoyed a buoyant increase.

In value terms, iron ore and concentrate, non-agglomerated exports skyrocketed to $224M in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2020 when exports increased by 238%. As a result, the exports attained the peak of $289M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Top Export Markets for Iron Ore and Concentrate, Non-Agglomerated from the Philippines in 2022:

1. Japan (3.0M tons)

Source: IndexBox Market Intelligence Platform