Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in the Philippines - 2023
Contents:
- Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in the Philippines (CIF) - 2023
- Imports of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in the Philippines
Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in the Philippines (CIF) - 2023
The average import price for steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia stood at $4,363 per ton in July 2023, picking up by 60% against the previous month. Over the period under review, the import price enjoyed a buoyant expansion. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 221% month-to-month. Over the period under review, average import prices attained the maximum at $6,969 per ton in March 2023; however, from April 2023 to July 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was China ($3,949 per ton), while the price for Malaysia stood at $3,521 per ton.
From December 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+5.1%).
Imports of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in the Philippines
In 2022, approx. 1.2K tons of steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia were imported into the Philippines; surging by 36% against the previous year's figure. Over the period under review, imports enjoyed a slight expansion. The pace of growth appeared the most rapid in 2020 with an increase of 61% against the previous year. As a result, imports attained the peak of 1.9K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia surged to $5.9M in 2022. Overall, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.5 | 2.3 | 2.3 | 3.4 | 10.8% |
| India | N/A | N/A | N/A | 1.6 | 0% |
| Japan | N/A | 1.2 | 0.6 | 0.8 | -18.4% |
| Taiwan (Chinese) | 0.4 | 0.9 | N/A | N/A | 125.0% |
| Others | 0.9 | 0.2 | 0.2 | 0.2 | -39.4% |
| Total | 3.9 | 4.6 | 3.0 | 5.9 | 14.8% |
Top Suppliers of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section to the Philippines in 2022:
- China (866.5 tons)
- Japan (188.9 tons)
- India (157.6 tons)
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