Price for Steel, Stainless; Angles, Shapes and Sections in the Philippines - 2024
Contents:
- Price for Steel, Stainless; Angles, Shapes and Sections in the Philippines (CIF) - 2022
- Price for Steel, Stainless; Angles, Shapes and Sections in the Philippines (FOB) - 2022
- Imports of Steel, Stainless; Angles, Shapes and Sections in the Philippines
- Exports of Steel, Stainless; Angles, Shapes and Sections in the Philippines
Price for Steel, Stainless; Angles, Shapes and Sections in the Philippines (CIF) - 2022
In 2022, the average import price for steel, stainless amounted to $1,973 per ton, picking up by 5.9% against the previous year. Overall, the import price, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 when the average import price increased by 41%. The import price peaked at $3,008 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
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 Taiwan (Chinese) ($4,198 per ton), while the price for China ($1,287 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Stainless; Angles, Shapes and Sections in the Philippines (FOB) - 2022
The average export price for steel, stainless stood at $957 per ton in 2022, dropping by -18.4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 323% against the previous year. As a result, the export price reached the peak level of $5,591 per ton. From 2019 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($968 per ton), while the average price for exports to Micronesia totaled $644 per ton.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.3%).
Imports of Steel, Stainless; Angles, Shapes and Sections in the Philippines
For the third consecutive year, the Philippines recorded decline in purchases abroad of steel, stainless, which decreased by -20.5% to 1.7K tons in 2022. Over the period under review, imports saw a deep slump. The smallest decline of -4.2% was in 2021.
In value terms, imports of steel, stainless fell to $3.7M in 2022. Overall, imports recorded a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 12%.
| Import of Steel, Stainless; Angles, Shapes and Sections in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.5 | 0.9 | 1.0 | 1.9 | 56.0% |
| Taiwan (Chinese) | 2.4 | 1.5 | 0.8 | 0.9 | -27.9% |
| China | 2.2 | 1.0 | 1.8 | 0.7 | -31.7% |
| Others | 0.7 | 0.2 | 0.5 | 0.1 | -47.7% |
| Total | 5.9 | 3.6 | 4.1 | 3.7 | -14.4% |
Top Suppliers of Steel, Stainless; Angles, Shapes and Sections to the Philippines in 2022:
- India (938.3 tons)
- China (557.9 tons)
- Taiwan (Chinese) (226.1 tons)
Exports of Steel, Stainless; Angles, Shapes and Sections in the Philippines
In 2022, after three years of growth, there was decline in shipments abroad of steel, stainless, when their volume decreased by -3.4% to 122 tons. The total export volume increased at an average annual rate of +1.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 4.5%. As a result, the exports reached the peak of 126 tons, and then contracted in the following year.
In value terms, exports of steel, stainless reduced notably to $117K in 2022. In general, exports showed a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 7.7% against the previous year. As a result, the exports attained the peak of $152K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Steel, Stainless; Angles, Shapes and Sections in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 128 | 152 | 146 | 112 | -4.4% |
| Micronesia | 12.7 | N/A | 0.8 | 3.7 | -33.7% |
| Others | N/A | N/A | 1.2 | 0.6 | -50.0% |
| Total | 141 | 152 | 148 | 117 | -6.0% |
Top Export Markets for Steel, Stainless; Angles, Shapes and Sections from the Philippines in 2022:
- Japan (116.0 tons)
- Micronesia (5.8 tons)
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