Price for Nickel; Wire, Not Alloyed in the Philippines - 2023

Contents:

1. Price for Nickel; Wire, Not Alloyed in the Philippines (FOB) - 2022
2. Price for Nickel; Wire, Not Alloyed in the Philippines (CIF) - 2022
3. Exports of Nickel; Wire, Not Alloyed in the Philippines
4. Imports of Nickel; Wire, Not Alloyed in the Philippines

Price for Nickel; Wire, Not Alloyed in the Philippines (FOB) - 2022

The average nickel; wire, not alloyed export price stood at $764,049 per ton in 2022, surging by 43% against the previous year. In general, the export price saw a significant expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 46% against the previous year. The export price peaked at $953,086 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($1,246,249 per ton), while the average price for exports to Brazil ($410,810 per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+64.0%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Nickel; Wire, Not Alloyed in the Philippines (CIF) - 2022

In 2022, the average nickel; wire, not alloyed import price amounted to $50,796 per ton, jumping by 49% against the previous year. Over the period under review, the import price saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 268%. As a result, import price attained the peak level of $54,222 per ton. From 2018 to 2022, the average import prices failed to regain momentum.

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 the United States ($122,784 per ton), while the price for India ($32,470 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Nickel; Wire, Not Alloyed in the Philippines

After two years of decline, shipments abroad of nickel; wire, not alloyeds increased by 96% to 4.4 tons in 2022. In general, exports continue to indicate a tangible expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, nickel; wire, not alloyed exports surged to $3.3M in 2022. Overall, exports posted a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Nickel; Wire, Not Alloyed from the Philippines in 2022:

1. Japan (4.0 tons)
2. Brazil (0.3 tons)
3. South Korea (0.1 tons)

Imports of Nickel; Wire, Not Alloyed in the Philippines

In 2022, approx. 30 tons of nickel; wire, not alloyeds were imported into the Philippines; growing by 93% on the previous year. Over the period under review, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +8.3% 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 decreased by -2.3% against 2020 indices.

In value terms, nickel; wire, not alloyed imports surged to $1.5M in 2022. Overall, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Nickel; Wire, Not Alloyed to the Philippines in 2022:

1. Austria (23.4 tons)
2. India (5.0 tons)
3. United States (0.8 tons)
4. Japan (0.6 tons)

Source: IndexBox Market Intelligence Platform