Price for Powders of Pig Iron in the Philippines - 2023

Contents:

1. Price for Powders of Pig Iron in the Philippines (CIF) - 2022
2. Price for Powders of Pig Iron in the Philippines (FOB) - 2022
3. Imports of Powders of Pig Iron in the Philippines
4. Exports of Powders of Pig Iron in the Philippines

Price for Powders of Pig Iron in the Philippines (CIF) - 2022

In 2022, the average powders of pig iron import price amounted to $2,252 per ton, rising by 22% against the previous year. Over the period under review, the import price saw a prominent increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 53%. As a result, import price reached the peak level of $2,694 per ton. From 2020 to 2022, the average import prices remained at a lower figure.

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 China ($4,701 per ton), while the price for Sweden ($828 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Powders of Pig Iron in the Philippines (FOB) - 2022

The average powders of pig iron export price stood at $3,085 per ton in 2022, growing by 20% against the previous year. Overall, the export price showed a prominent expansion. The pace of growth appeared the most rapid in 2021 an increase of 134% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($6,574 per ton), while the average price for exports to China ($68 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+22.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Powders of Pig Iron in the Philippines

For the fourth consecutive year, the Philippines recorded growth in supplies from abroad of powders of pig ira, which increased by 132% to 11K tons in 2022. Overall, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 163%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, powders of pig iron imports soared to $25M in 2022. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Powders of Pig Iron to the Philippines in 2022:

1. Singapore (2.8K tons)
2. Sweden (2.2K tons)
3. Canada (1.9K tons)
4. China (1.3K tons)
5. Italy (0.6K tons)
6. India (0.3K tons)
7. Belgium (0.3K tons)
8. Japan (0.1K tons)

Exports of Powders of Pig Iron in the Philippines

Powders of pig iron exports from the Philippines fell significantly to 50 tons in 2022, reducing by -44.5% against 2021 figures. Over the period under review, exports showed a dramatic setback. The smallest decline of -16.1% was in 2021.

In value terms, powders of pig iron exports dropped significantly to $155K in 2022. In general, exports, however, saw a strong expansion. The growth pace was the most rapid in 2021 when exports increased by 96%. As a result, the exports attained the peak of $231K, and then dropped rapidly in the following year.

Top Export Markets for Powders of Pig Iron from the Philippines in 2022:

1. China (17.9 tons)
2. Japan (12.3 tons)
3. South Korea (11.2 tons)
4. Vietnam (8.6 tons)

Source: IndexBox Market Intelligence Platform