Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines - 2023
Contents:
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines (CIF) - 2022
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines (FOB) - 2022
- Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines
- Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines (CIF) - 2022
In 2022, the average import price for stainless steel bars and rods, angles, shapes and sectionses amounted to $4,237 per ton, with an increase of 26% against the previous year. Overall, the import price posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 58% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($12,680 per ton), while the price for China ($2,095 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines (FOB) - 2022
In 2022, the average export price for stainless steel bars and rods, angles, shapes and sectionses amounted to $1,646 per ton, which is down by -2.9% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The pace of growth was the most pronounced in 2016 an increase of 51% against the previous year. Over the period under review, the average export prices hit record highs at $4,652 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($4,643 per ton), while the average price for exports to Micronesia ($885 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 Japan (+2.9%), while the prices for the other major destinations experienced a decline.
Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines
In 2022, purchases abroad of stainless steel bars and rods, angles, shapes and sectionses decreased by -40.8% to 8.6K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 4.3% against the previous year.
In value terms, imports of stainless steel bars and rods, angles, shapes and sectionses contracted sharply to $37M in 2022. Overall, total imports indicated a measured expansion from 2019 to 2022: its value increased at an average annual rate of +3.5% 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 +14.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. As a result, imports reached the peak of $49M, and then fell markedly in the following year.
| Import of Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 5.8 | 8.9 | 22.5 | 16.6 | 42.0% |
| China | 11.3 | 11.8 | 16.9 | 8.7 | -8.3% |
| India | 4.1 | 3.4 | 3.5 | 4.6 | 3.9% |
| Taiwan (Chinese) | 9.2 | 5.9 | 2.5 | 2.7 | -33.5% |
| Vietnam | 0.2 | 0.2 | 0.6 | 1.5 | 95.7% |
| Malaysia | 0.7 | 0.8 | 0.8 | 1.2 | 19.7% |
| Others | 1.8 | 1.1 | 2.0 | 1.2 | -12.6% |
| Total | 33.0 | 32.1 | 48.9 | 36.6 | 3.5% |
Top Suppliers of Stainless Steel Bars and Rods, Angles, Shapes and Sections to the Philippines in 2022:
- China (4.1K tons)
- India (2.2K tons)
- Japan (1.3K tons)
- Taiwan (Chinese) (0.4K tons)
- Malaysia (0.2K tons)
- Vietnam (0.2K tons)
Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines
For the third consecutive year, the Philippines recorded decline in shipments abroad of stainless steel bars and rods, angles, shapes and sectionses, which decreased by -20% to 91 tons in 2022. Over the period under review, exports continue to indicate a deep contraction. The smallest decline of -1.1% was in 2020.
In value terms, exports of stainless steel bars and rods, angles, shapes and sectionses shrank remarkably to $149K in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 23%. As a result, the exports attained the peak of $192K, and then declined significantly in the following year.
| Export of Stainless Steel Bars and Rods, Angles, Shapes and Sections in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 133 | 155 | 147 | 115 | -4.7% |
| Thailand | N/A | N/A | 41.6 | 25.1 | -39.7% |
| Micronesia | 13.8 | N/A | 0.8 | 5.6 | -26.0% |
| Others | 0.3 | 1.5 | 3.2 | 3.3 | 122.4% |
| Total | 147 | 157 | 192 | 149 | 0.5% |
Top Export Markets for Stainless Steel Bars and Rods, Angles, Shapes and Sections from the Philippines in 2022:
- Japan (78.9 tons)
- Micronesia (6.3 tons)
- Thailand (5.4 tons)
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