Price for Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines - 2023
Contents:
- Price for Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines (CIF) - 2023
- Price for Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines (FOB) - 2022
- Imports of Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines
- Exports of Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines
Price for Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines (CIF) - 2023
In September 2023, the average import price for steel, stainless; semi-finished products, other than of rectangular cross-sectia amounted to $1,127 per ton, which is down by -20.1% against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 28% m-o-m. As a result, import price reached the peak level of $1,526 per ton. From April 2023 to September 2023, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for South Korea.
From November 2022 to September 2023, the rate of growth in terms of prices for South Korea amounted to -0.4% per month.
Price for Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines (FOB) - 2022
In 2022, the average export price for steel, stainless; semi-finished products, other than of rectangular cross-sectia amounted to $11,244 per ton, surging by 108% against the previous year. Overall, the export price enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 an increase of 142% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($21,217 per ton), while the average price for exports to Japan amounted to $4,176 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines
Imports of steel, stainless; semi-finished products, other than of rectangular cross-sectia into the Philippines surged to 3.1K tons in 2022, picking up by 64% compared with 2021 figures. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 208% against the previous year. As a result, imports reached the peak of 4.2K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of steel, stainless; semi-finished products, other than of rectangular cross-sectia surged to $4.4M in 2022. Overall, imports saw a significant increase. The growth pace was the most rapid in 2020 with an increase of 99%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 1.2 | 3.8 | 2.2 | 3.8 | 46.8% |
| China | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Japan | 0.4 | 0.1 | 0.2 | 0.1 | -37.0% |
| Others | 0.4 | 0.2 | 0.3 | 0.3 | -9.1% |
| Total | 2.1 | 4.3 | 2.8 | 4.4 | 28.0% |
Top Suppliers of Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section to the Philippines in 2022:
- South Korea (2934.1 tons)
- China (92.9 tons)
- Japan (24.9 tons)
Exports of Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines
In 2022, approx. 698 kg of steel, stainless; semi-finished products, other than of rectangular cross-sectia were exported from the Philippines; dropping by -92.5% on 2021. Overall, exports showed a sharp decrease. The smallest decline of -2.3% was in 2021.
In value terms, exports of steel, stainless; semi-finished products, other than of rectangular cross-sectia declined rapidly to $7.8K in 2022. In general, exports recorded a dramatic decline. The smallest decline of -36% was in 2020.
| Export of Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 8.3 | 21.8 | 6.0 | 6.1 | -9.8% |
| Japan | 59.1 | 0.4 | N/A | 1.7 | -69.4% |
| Hong Kong SAR | 43.6 | 5.4 | N/A | N/A | -87.6% |
| China | 0.4 | 23.0 | 2.8 | N/A | 164.6% |
| United States | 7.5 | 10.5 | N/A | N/A | 40.0% |
| Taiwan (Chinese) | N/A | 16.6 | 30.6 | N/A | 84.3% |
| Others | 5.7 | 2.2 | 10.9 | 0.1 | -74.0% |
| Total | 125 | 79.8 | 50.3 | 7.8 | -60.3% |
Top Export Markets for Steel, Stainless; Semi-Finished Products, Other than of Rectangular Cross-Section from the Philippines in 2022:
- Japan (410.0 kg)
- Finland (286.0 kg)
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