Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines - 2023
Contents:
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines (CIF) - 2023
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines (FOB) - 2022
- Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines
- Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines (CIF) - 2023
The average import price for stainless steel; flat-rolled products of width less than 600mms stood at $2,407 per ton in June 2023, increasing by 32% against the previous month. Overall, the import price continues to indicate a slight increase. Over the period under review, average import prices attained the peak figure at $3,310 per ton in March 2023; however, from April 2023 to June 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($6,028 per ton), while the price for China ($1,549 per ton) was amongst the lowest.
From December 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Japan (-1.7%), while the prices for the other major suppliers experienced a decline.
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines (FOB) - 2022
The average export price for stainless steel; flat-rolled products of width less than 600mms stood at $11,027 per ton in 2022, rising by 99% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 167% against the previous year. As a result, the export price reached the peak level of $40,039 per ton. From 2015 to 2022, the average 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 Hong Kong SAR ($15,963 per ton), while the average price for exports to Papua New Guinea ($3,286 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 Vietnam (+18.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines
In 2022, approx. 5.8K tons of stainless steel; flat-rolled products of width less than 600mms were imported into the Philippines; waning by -12.4% against 2021 figures. Overall, imports recorded a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 16%.
In value terms, imports of stainless steel; flat-rolled products of width less than 600mms contracted remarkably to $16M in 2022. In general, imports continue to indicate a pronounced decline. The growth pace was the most rapid in 2021 when imports increased by 30%. As a result, imports reached the peak of $21M, and then reduced rapidly in the following year.
| Import of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.5 | 1.9 | 6.8 | 6.8 | 39.6% |
| Thailand | N/A | 0.1 | 3.3 | 2.7 | 419.6% |
| Taiwan (Chinese) | 3.1 | 3.9 | 3.8 | 2.4 | -8.2% |
| Japan | 2.6 | 2.7 | 3.1 | 1.8 | -11.5% |
| Malaysia | 4.7 | 4.6 | 1.6 | 1.1 | -38.4% |
| Singapore | 2.0 | 0.5 | 0.4 | 0.1 | -63.2% |
| South Korea | 2.4 | 1.2 | 0.7 | 0.1 | -65.3% |
| Others | 1.2 | 1.2 | 1.3 | 1.1 | -2.9% |
| Total | 18.4 | 16.1 | 21.0 | 16.1 | -4.4% |
Top Suppliers of Stainless Steel; Flat-Rolled Products of Width Less than 600mm to the Philippines in 2022:
- China (3499.6 tons)
- Taiwan (Chinese) (856.3 tons)
- Thailand (720.6 tons)
- Japan (350.2 tons)
- Malaysia (224.0 tons)
- South Korea (29.8 tons)
- Singapore (11.4 tons)
Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines
In 2022, exports of stainless steel; flat-rolled products of width less than 600mms from the Philippines dropped sharply to 7.9 tons, waning by -71.1% against 2021. In general, exports faced a precipitous decline. The growth pace was the most rapid in 2021 with an increase of 45%.
In value terms, exports of stainless steel; flat-rolled products of width less than 600mms contracted notably to $87K in 2022. Overall, exports showed a significant decrease. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year.
| Export of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 6.1 | N/A | 21.0 | 65.6 | 120.7% |
| Japan | N/A | N/A | 0.3 | 13.5 | 4400.0% |
| Papua New Guinea | N/A | N/A | N/A | 2.3 | 0% |
| United Kingdom | N/A | N/A | 4.1 | 1.7 | -58.5% |
| Vietnam | 24.3 | 41.8 | 8.4 | N/A | -41.2% |
| Malaysia | 374 | 81.3 | 39.9 | N/A | -67.3% |
| Singapore | 7.3 | N/A | 72.3 | N/A | 214.7% |
| Others | 0.6 | N/A | 5.0 | 3.7 | 83.4% |
| Total | 413 | 123 | 151 | 86.8 | -40.5% |
Top Export Markets for Stainless Steel; Flat-Rolled Products of Width Less than 600mm from the Philippines in 2022:
- Hong Kong SAR (4.1 tons)
- Japan (2.7 tons)
- Papua New Guinea (0.7 tons)
- United Kingdom (0.1 tons)
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