Price for Iron or Steel; Cast Articles in the Philippines - 2023
Contents:
- Price for Iron or Steel; Cast Articles in the Philippines (CIF) - 2022
- Price for Iron or Steel; Cast Articles in the Philippines (FOB) - 2023
- Imports of Iron or Steel; Cast Articles in the Philippines
- Exports of Iron or Steel; Cast Articles in the Philippines
Price for Iron or Steel; Cast Articles in the Philippines (CIF) - 2022
In 2022, the average import price for iron or steel; cast articleses amounted to $1,843 per ton, increasing by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 an increase of 29%. The import price peaked in 2022 and is likely to see steady 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 ($5,154 per ton), while the price for China ($1,489 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) (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron or Steel; Cast Articles in the Philippines (FOB) - 2023
In May 2023, the average export price for iron or steel; cast articleses amounted to $15,656 per ton, waning by -2.3% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 72% against the previous month. Over the period under review, the average export prices attained the maximum at $19,534 per ton in September 2022; however, from October 2022 to May 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($24,831 per ton), while the average price for exports to Taiwan (Chinese) ($8,873 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron or Steel; Cast Articles in the Philippines
In 2022, imports of iron or steel; cast articleses into the Philippines totaled 21K tons, surging by 4.9% against the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 11%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, iron or steel; cast articles imports skyrocketed to $39M in 2022. Overall, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +6.2% 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 +72.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 44%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Iron or Steel; Cast Articles in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.6 | 9.2 | 19.1 | 19.2 | 15.1% |
| India | 10.7 | 7.0 | 6.5 | 7.2 | -12.4% |
| Japan | 3.4 | 2.3 | 1.3 | 4.3 | 8.1% |
| Taiwan (Chinese) | 0.8 | 1.0 | 1.5 | 2.9 | 53.6% |
| Thailand | 3.0 | 1.2 | 1.1 | 1.3 | -24.3% |
| France | 0.1 | 0.1 | 0.1 | 1.2 | 128.9% |
| Others | 2.3 | 2.0 | 3.2 | 3.1 | 10.5% |
| Total | 32.8 | 22.8 | 32.8 | 39.3 | 6.2% |
Top Suppliers of Iron or Steel; Cast Articles to the Philippines in 2022:
- China (12.9K tons)
- India (4.7K tons)
- Taiwan (Chinese) (1.0K tons)
- Thailand (0.9K tons)
- Japan (0.8K tons)
- France (0.6K tons)
Exports of Iron or Steel; Cast Articles in the Philippines
In 2022, the amount of iron or steel; cast articleses exported from the Philippines surged to 379 tons, growing by 22% on 2021. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 113%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.
In value terms, iron or steel; cast articles exports surged to $5.5M in 2022. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 123%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.
| Export of Iron or Steel; Cast Articles in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 2,138 | 1,175 | 2,910 | 2,507 | 5.5% |
| Taiwan (Chinese) | 37.0 | 25.3 | 280 | 1,177 | 216.9% |
| Germany | 639 | 466 | 606 | 796 | 7.6% |
| United States | 319 | 164 | 352 | 260 | -6.6% |
| Others | 239 | 200 | 371 | 731 | 45.2% |
| Total | 3,372 | 2,031 | 4,520 | 5,471 | 17.5% |
Top Export Markets for Iron or Steel; Cast Articles from the Philippines in 2022:
- Taiwan (Chinese) (182.2 tons)
- Japan (113.9 tons)
- Germany (58.8 tons)
- United States (3.7 tons)
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