Price for Copper; Refined and Copper Alloys, Unwrought in the Philippines - 2023
Contents:
- Price for Copper; Refined and Copper Alloys, Unwrought in the Philippines (FOB) - 2023
- Price for Copper; Refined and Copper Alloys, Unwrought in the Philippines (CIF) - 2023
- Exports of Copper; Refined and Copper Alloys, Unwrought in the Philippines
- Imports of Copper; Refined and Copper Alloys, Unwrought in the Philippines
Price for Copper; Refined and Copper Alloys, Unwrought in the Philippines (FOB) - 2023
The average export price for copper; refined and copper alloys, unwroughts stood at $8,026 per ton in December 2023, stabilizing at the previous month. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average export price increased by 4.9% month-to-month. Over the period under review, the average export prices hit record highs at $8,953 per ton in March 2023; however, from April 2023 to December 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In December 2023, the countries with the highest prices were Vietnam ($8,231 per ton) and Indonesia ($8,231 per ton), while the average price for exports to China ($7,746 per ton) and South Korea ($8,167 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+0.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Copper; Refined and Copper Alloys, Unwrought in the Philippines (CIF) - 2023
The average import price for copper; refined and copper alloys, unwroughts stood at $8,385 per ton in December 2023, increasing by 2.4% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 5.5% m-o-m. The import price peaked at $9,366 per ton in April 2023; however, from May 2023 to December 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was France ($10,424 per ton), while the price for South Korea ($2,632 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by France (-0.0%), while the prices for the other major suppliers experienced a decline.
Exports of Copper; Refined and Copper Alloys, Unwrought in the Philippines
In 2022, shipments abroad of copper; refined and copper alloys, unwroughts decreased by -10% to 220K tons, falling for the second year in a row after two years of growth. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 16%. As a result, the exports reached the peak of 259K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of copper; refined and copper alloys, unwroughts dropped to $1.9B in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +15.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42%. As a result, the exports reached the peak of $2.2B, and then reduced in the following year.
| Export of Copper; Refined and Copper Alloys, Unwrought in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 644 | 881 | 1,333 | 852 | 9.8% |
| Thailand | 284 | 318 | 454 | 552 | 24.8% |
| Vietnam | 52.4 | 61.0 | 147 | 165 | 46.6% |
| Indonesia | 88.2 | 57.6 | 61.4 | 128 | 13.2% |
| Malaysia | 39.4 | 24.6 | 33.3 | 122 | 45.8% |
| South Korea | 101 | 112 | 91.9 | 71.2 | -11.0% |
| Taiwan (Chinese) | 45.1 | 2.5 | 32.7 | 34.4 | -8.6% |
| India | N/A | 116 | 78.1 | N/A | -32.7% |
| Others | 1.7 | 0.6 | 0.9 | 0.1 | -61.1% |
| Total | 1,256 | 1,573 | 2,232 | 1,925 | 15.3% |
Top Export Markets for Copper; Refined and Copper Alloys, Unwrought from the Philippines in 2022:
- China (98.5K tons)
- Thailand (63.2K tons)
- Vietnam (18.0K tons)
- Indonesia (14.4K tons)
- Malaysia (13.7K tons)
- South Korea (8.2K tons)
- Taiwan (Chinese) (3.7K tons)
Imports of Copper; Refined and Copper Alloys, Unwrought in the Philippines
In 2022, the amount of copper; refined and copper alloys, unwroughts imported into the Philippines shrank dramatically to 5.8K tons, with a decrease of -58.4% on the previous year's figure. In general, imports continue to indicate a sharp slump. The pace of growth appeared the most rapid in 2021 when imports increased by 15%.
In value terms, imports of copper; refined and copper alloys, unwroughts contracted rapidly to $54M in 2022. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2021 when imports increased by 63%. As a result, imports reached the peak of $128M, and then fell rapidly in the following year.
| Import of Copper; Refined and Copper Alloys, Unwrought in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 30.5 | 18.8 | 27.7 | 29.6 | -1.0% |
| South Korea | 34.0 | 35.9 | 82.9 | 21.9 | -13.6% |
| Taiwan (Chinese) | 29.2 | 22.6 | 15.8 | 1.0 | -67.5% |
| Others | 3.2 | 1.1 | 1.5 | 1.2 | -27.9% |
| Total | 96.9 | 78.5 | 128 | 53.7 | -17.9% |
Top Suppliers of Copper; Refined and Copper Alloys, Unwrought to the Philippines in 2022:
- Japan (3.3K tons)
- South Korea (2.3K tons)
- Taiwan (Chinese) (0.1K tons)
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