Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines - 2023

Contents:

1. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (CIF) - 2022
2. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (FOB) - 2022
3. Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines
4. Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (CIF) - 2022

In 2022, the average import price for steel, alloy amounted to $3,872 per ton, with an increase of 81% against the previous year. Overall, the import price posted resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($3,938 per ton), while the price for Japan totaled $3,244 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (FOB) - 2022

The average export price for steel, alloy stood at $1,643 per ton in 2022, which is down by -16.7% against the previous year. In general, the export price saw a perceptible reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 124%. As a result, the export price reached the peak level of $4,796 per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($6,594 per ton), while the average price for exports to Hong Kong SAR ($800 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+11.2%), while the prices for the other major destinations experienced a decline.

Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines

Imports of steel, alloy into the Philippines soared to 532 tons in 2022, increasing by 25% on the year before. Overall, imports, however, faced a drastic downturn.

In value terms, imports of steel, alloy skyrocketed to $2.1M in 2022. In general, imports, however, recorded a slight slump.

Top Suppliers of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented to the Philippines in 2022:

1. China (481.3 tons)
2. Japan (50.5 tons)

Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in the Philippines

In 2022, the amount of steel, alloy exported from the Philippines surged to 831 tons, with an increase of 123% against the year before. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,142% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, exports of steel, alloy soared to $1.4M in 2022. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 636%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented from the Philippines in 2022:

1. Hong Kong SAR (386.4 tons)
2. China (254.8 tons)
3. Mexico (131.1 tons)
4. Thailand (59.0 tons)

Source: IndexBox Market Intelligence Platform