Price for Refined Copper Tube and Pipe in the Philippines - 2023
Contents:
- Price for Refined Copper Tube and Pipe in the Philippines (CIF) - 2023
- Price for Refined Copper Tube and Pipe in the Philippines (FOB) - 2022
- Imports of Refined Copper Tube and Pipe in the Philippines
- Exports of Refined Copper Tube and Pipe in the Philippines
Price for Refined Copper Tube and Pipe in the Philippines (CIF) - 2023
In June 2023, the average import price for tubes and pipes of refined copper amounted to $8,212 per ton, which is down by -5.4% against the previous month. Overall, the import price continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 14% m-o-m. Over the period under review, average import prices attained the peak figure at $11,790 per ton in June 2022; however, from July 2022 to June 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Malaysia ($21,774 per ton), while the price for South Korea ($4,829 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Refined Copper Tube and Pipe in the Philippines (FOB) - 2022
The average export price for tubes and pipes of refined copper stood at $23,308 per ton in 2022, with an increase of 155% against the previous year. In general, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($24,781 per ton), while the average price for exports to Hong Kong SAR amounted to $2,035 per ton.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+37.1%), while the prices for the other major destinations experienced a decline.
Imports of Refined Copper Tube and Pipe in the Philippines
In 2022, refined copper tube and pipe imports into the Philippines skyrocketed to 2.6K tons, jumping by 23% compared with the previous year. Overall, total imports indicated modest growth from 2019 to 2022: its volume increased at an average annual rate of +1.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.
In value terms, refined copper tube and pipe imports surged to $28M in 2022. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 87%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Refined Copper Tube and Pipe in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.5 | 7.4 | 15.4 | 22.7 | 25.4% |
| Malaysia | 2.7 | 2.2 | 2.6 | 2.0 | -9.5% |
| South Korea | 1.9 | 0.9 | 1.1 | 1.7 | -3.6% |
| Hong Kong SAR | N/A | N/A | 0.2 | 0.9 | 350.0% |
| Vietnam | 0.1 | N/A | 0.2 | 0.4 | 58.7% |
| Others | 1.1 | 0.7 | 1.3 | 0.5 | -23.1% |
| Total | 17.2 | 11.2 | 20.9 | 28.3 | 18.1% |
Top Suppliers of Refined Copper Tube and Pipe to the Philippines in 2022:
- China (2033.8 tons)
- South Korea (305.1 tons)
- Malaysia (155.2 tons)
- Hong Kong SAR (59.4 tons)
- Vietnam (50.7 tons)
Exports of Refined Copper Tube and Pipe in the Philippines
In 2022, shipments abroad of tubes and pipes of refined copper decreased by -45.6% to 3.1 tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a mild setback. The pace of growth was the most pronounced in 2020 when exports increased by 422%. As a result, the exports reached the peak of 17 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, refined copper tube and pipe exports soared to $71K in 2022. Overall, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 364%. As a result, the exports reached the peak of $116K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Refined Copper Tube and Pipe in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 19.9 | 60.8 | 40.3 | 70.9 | 52.7% |
| Hong Kong SAR | N/A | N/A | N/A | 0.4 | 0% |
| Kenya | N/A | N/A | 6.2 | N/A | 0% |
| China | N/A | 55.4 | N/A | N/A | 0% |
| Malaysia | 4.3 | N/A | N/A | N/A | 0% |
| Australia | N/A | N/A | 5.0 | N/A | 0% |
| Others | 0.8 | N/A | 0.1 | N/A | -64.6% |
| Total | 25.0 | 116 | 51.4 | 71.3 | 41.8% |
Top Export Markets for Refined Copper Tube and Pipe from the Philippines in 2022:
- South Korea (2.9 tons)
- Hong Kong SAR (0.2 tons)
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