Price for Steel, Alloy; Ingots and Other Primary Forms in the Philippines - 2023
Contents:
- Price for Steel, Alloy; Ingots and Other Primary Forms in the Philippines (CIF) - 2022
- Imports of Steel, Alloy; Ingots and Other Primary Forms in the Philippines
Price for Steel, Alloy; Ingots and Other Primary Forms in the Philippines (CIF) - 2022
The average import price for steel, alloy; ingots and other primary formses stood at $38,588 per ton in 2022, growing by 368% against the previous year. Over the period under review, the import price posted a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
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 Japan ($43,077 per ton), while the price for the United States amounted to $8,774 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Steel, Alloy; Ingots and Other Primary Forms in the Philippines
In 2022, the amount of steel, alloy; ingots and other primary formses imported into the Philippines declined rapidly to 405 kg, which is down by -90.8% against the year before. Over the period under review, imports faced a significant decrease. The growth pace was the most rapid in 2021 when imports increased by 285%.
In value terms, imports of steel, alloy; ingots and other primary formses contracted rapidly to $16K in 2022. Overall, imports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2021 with an increase of 248%.
| Import of Steel, Alloy; Ingots and Other Primary Forms in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 28.2 | 7.1 | 19.5 | 15.2 | -18.6% |
| United States | N/A | 3.3 | N/A | 0.5 | -61.1% |
| China | 1.5 | N/A | 16.9 | N/A | 235.7% |
| Malaysia | 38.0 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 67.7 | 10.4 | 36.4 | 15.6 | -38.7% |
Top Suppliers of Steel, Alloy; Ingots and Other Primary Forms to the Philippines in 2022:
- Japan (352.0 kg)
- United States (53.0 kg)
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