Price for Nickel; Bars, Rods, Profiles and Wire in the Philippines - 2023
Contents:
- Price for Nickel; Bars, Rods, Profiles and Wire in the Philippines (CIF) - 2022
- Price for Nickel; Bars, Rods, Profiles and Wire in the Philippines (FOB) - 2023
- Imports of Nickel; Bars, Rods, Profiles and Wire in the Philippines
- Exports of Nickel; Bars, Rods, Profiles and Wire in the Philippines
Price for Nickel; Bars, Rods, Profiles and Wire in the Philippines (CIF) - 2022
The average import price for nickel; bars, rods, profiles and wires stood at $45,102 per ton in 2022, picking up by 61% against the previous year. In general, the import price posted a resilient increase. The pace of growth was the most pronounced in 2015 an increase of 111%. As a result, import price attained the peak level of $48,529 per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($110,278 per ton), while the price for South Korea ($10,048 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+99.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Nickel; Bars, Rods, Profiles and Wire in the Philippines (FOB) - 2023
The average export price for nickel; bars, rods, profiles and wires stood at $307K per ton in July 2023, with a decrease of -68.2% against the previous month. In general, the export price saw a abrupt setback. The growth pace was the most rapid in January 2023 when the average export price increased by 51% m-o-m. Over the period under review, the average export prices hit record highs at $1.3M per ton in February 2023; however, from March 2023 to July 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 ($730K per ton), while the average price for exports to Singapore amounted to $144K per ton.
From December 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (0.0%), while the prices for the other major destinations experienced a decline.
Imports of Nickel; Bars, Rods, Profiles and Wire in the Philippines
Imports of nickel; bars, rods, profiles and wires into the Philippines shrank to 176 tons in 2022, which is down by -11.2% compared with 2021 figures. Over the period under review, imports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. As a result, imports attained the peak of 198 tons, and then dropped in the following year.
In value terms, imports of nickel; bars, rods, profiles and wires surged to $7.9M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +19.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Nickel; Bars, Rods, Profiles and Wire in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 0.8 | N/A | 83.4 | 1,395 | 1103.6% |
| Germany | 1,002 | 1,425 | 1,929 | 1,219 | 6.8% |
| Japan | 1,032 | 1,099 | 1,318 | 1,086 | 1.7% |
| India | 924 | 1,015 | 1,114 | 1,075 | 5.2% |
| United States | 340 | 238 | 424 | 886 | 37.6% |
| Malaysia | 344 | 380 | 410 | 745 | 29.4% |
| Finland | N/A | N/A | 40.3 | 401 | 895.0% |
| South Korea | 343 | 64.8 | 105 | 138 | -26.2% |
| Others | 683 | 271 | 135 | 981 | 12.8% |
| Total | 4,668 | 4,492 | 5,559 | 7,927 | 19.3% |
Top Suppliers of Nickel; Bars, Rods, Profiles and Wire to the Philippines in 2022:
- India (33.4 tons)
- Germany (31.5 tons)
- Austria (27.3 tons)
- Malaysia (26.3 tons)
- South Korea (13.8 tons)
- United States (12.9 tons)
- Finland (10.4 tons)
- Japan (9.9 tons)
Exports of Nickel; Bars, Rods, Profiles and Wire in the Philippines
In 2022, overseas shipments of nickel; bars, rods, profiles and wires decreased by -14.5% to 21 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a abrupt curtailment. The pace of growth was the most pronounced in 2020 when exports increased by 16%. As a result, the exports attained the peak of 30 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of nickel; bars, rods, profiles and wires declined modestly to $3.3M in 2022. The total export value increased at an average annual rate of +3.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 32%. As a result, the exports attained the peak of $3.5M, and then dropped slightly in the following year.
| Export of Nickel; Bars, Rods, Profiles and Wire in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 2,661 | 2,257 | 3,129 | 3,108 | 5.3% |
| Brazil | 302 | 58.3 | 95.0 | 131 | -24.3% |
| South Korea | 0.4 | 0.3 | N/A | 87.2 | 501.8% |
| United Kingdom | N/A | 267 | 251 | 1.6 | -92.3% |
| Hong Kong SAR | N/A | 45.0 | N/A | N/A | 0% |
| Others | 6.1 | 4.8 | 5.8 | 0.9 | -47.2% |
| Total | 2,970 | 2,633 | 3,481 | 3,328 | 3.9% |
Top Export Markets for Nickel; Bars, Rods, Profiles and Wire from the Philippines in 2022:
- Japan (18.8 tons)
- Brazil (1.5 tons)
- South Korea (0.3 tons)
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