Price for Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines - 2023

Contents:

1. Price for Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines (CIF) - 2022
2. Price for Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines (FOB) - 2022
3. Imports of Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines
4. Exports of Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines

Price for Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines (CIF) - 2022

The average import price for copper; cast, moulded, stamped or forged, but not further worked stood at $20,623 per ton in 2022, increasing by 13% against the previous year. Overall, the import price showed a buoyant increase. The pace of growth was the most pronounced in 2017 an increase of 262%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain 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 Vietnam ($38,909 per ton), while the price for Germany ($16,834 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+28.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines (FOB) - 2022

In 2022, the average export price for copper; cast, moulded, stamped or forged, but not further worked amounted to $19,287 per ton, falling by -6.8% against the previous year. In general, the export price, however, showed a significant increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 3,245%. Over the period under review, the average export prices reached the peak figure at $42,000 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +46.2% per year.

Imports of Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines

In 2022, approx. 136 tons of copper; cast, moulded, stamped or forged, but not further worked were imported into the Philippines; reducing by -17.5% compared with the year before. Overall, imports recorded a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. As a result, imports reached the peak of 164 tons, and then dropped sharply in the following year.

In value terms, imports of copper; cast, moulded, stamped or forged, but not further worked shrank to $2.8M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +7.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 79% against the previous year. As a result, imports reached the peak of $3M, and then reduced in the following year.

Top Suppliers of Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked to the Philippines in 2022:

1. China (87.8 tons)
2. Japan (20.4 tons)
3. Taiwan (Chinese) (13.1 tons)
4. Germany (3.3 tons)
5. Thailand (2.3 tons)
6. United States (2.1 tons)

Exports of Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked in the Philippines

In 2022, the amount of copper; cast, moulded, stamped or forged, but not further worked exported from the Philippines reduced to 1.2 tons, stabilizing at the previous year's figure. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 163%. As a result, the exports reached the peak of 1.2 tons, leveling off in the following year.

In value terms, exports of copper; cast, moulded, stamped or forged, but not further worked shrank to $24K in 2022. Over the period under review, exports, however, recorded resilient growth. The growth pace was the most rapid in 2021 when exports increased by 220% against the previous year. As a result, the exports attained the peak of $26K, and then contracted in the following year.

Top Export Markets for Copper; Cast, Moulded, Stamped or Forged, But Not Further Worked from the Philippines in 2022:

1. Japan (1.2 tons)

Source: IndexBox Market Intelligence Platform