Price for Steel, Stainless; Ingots and Other Primary Forms in the Philippines - 2023
Contents:
- Price for Steel, Stainless; Ingots and Other Primary Forms in the Philippines (CIF) - 2022
- Imports of Steel, Stainless; Ingots and Other Primary Forms in the Philippines
Price for Steel, Stainless; Ingots and Other Primary Forms in the Philippines (CIF) - 2022
In 2022, the average import price for steel, stainless; ingots and other primary formses amounted to $13,622 per ton, growing by 143% against the previous year. Over the period under review, the import price saw a prominent expansion. The most prominent rate of growth was recorded in 2018 an increase of 229% against the previous year. As a result, import price reached the peak level of $16,537 per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($69,990 per ton), while the price for South Korea ($5,086 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Steel, Stainless; Ingots and Other Primary Forms in the Philippines
Imports of steel, stainless; ingots and other primary formses into the Philippines shrank sharply to 1.2 tons in 2022, declining by -80.7% against 2021 figures. In general, imports faced a dramatic slump. The pace of growth appeared the most rapid in 2021 when imports increased by 395% against the previous year. As a result, imports attained the peak of 6 tons, and then dropped remarkably in the following year.
In value terms, imports of steel, stainless; ingots and other primary formses declined significantly to $16K in 2022. Over the period under review, imports continue to indicate a dramatic curtailment. The pace of growth was the most pronounced in 2021 with an increase of 168%.
| Import of Steel, Stainless; Ingots and Other Primary Forms in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 10.4 | 0.2 | 0.4 | 7.0 | -12.4% |
| China | 18.1 | 1.3 | 0.2 | 5.2 | -34.0% |
| South Korea | 1.4 | 9.8 | 31.7 | 3.7 | 38.3% |
| India | 10.2 | N/A | N/A | N/A | 0% |
| Others | 13.9 | 1.4 | 1.7 | N/A | -65.0% |
| Total | 53.9 | 12.7 | 33.9 | 15.9 | -33.4% |
Top Suppliers of Steel, Stainless; Ingots and Other Primary Forms to the Philippines in 2022:
- South Korea (721.0 kg)
- China (346.0 kg)
- United States (100.0 kg)
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