Price for Ferrous Waste and Scrap; of Cast Iron in the Philippines - 2023

Contents:

1. Price for Ferrous Waste and Scrap; of Cast Iron in the Philippines (CIF) - 2022
2. Price for Ferrous Waste and Scrap; of Cast Iron in the Philippines (FOB) - 2022
3. Imports of Ferrous Waste and Scrap; of Cast Iron in the Philippines
4. Exports of Ferrous Waste and Scrap; of Cast Iron in the Philippines

Price for Ferrous Waste and Scrap; of Cast Iron in the Philippines (CIF) - 2022

In 2022, the average import price for ferrous waste and scrap; of cast ira amounted to $498 per ton, increasing by 19% against the previous year. Overall, the import price showed tangible growth. The growth pace was the most rapid in 2016 when the average import price increased by 78%. Over the period under review, average import prices hit record highs at $6,575 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($1,230 per ton), while the price for Japan ($356 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+56.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Ferrous Waste and Scrap; of Cast Iron in the Philippines (FOB) - 2022

In 2022, the average export price for ferrous waste and scrap; of cast ira amounted to $339 per ton, remaining constant against the previous year. Over the period under review, the export price saw a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 137% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($721 per ton), while the average price for exports to Bangladesh ($180 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 India (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ferrous Waste and Scrap; of Cast Iron in the Philippines

In 2022, approx. 10K tons of ferrous waste and scrap; of cast ira were imported into the Philippines; rising by 123% on the previous year's figure. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 564%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of ferrous waste and scrap; of cast ira skyrocketed to $5.1M in 2022. Over the period under review, imports showed significant growth. The growth pace was the most rapid in 2020 with an increase of 623% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Top Suppliers of Ferrous Waste and Scrap; of Cast Iron to the Philippines in 2022:

1. United States (9.6K tons)
2. Japan (0.3K tons)
3. Canada (0.3K tons)
4. Malaysia (0.1K tons)

Exports of Ferrous Waste and Scrap; of Cast Iron in the Philippines

In 2022, overseas shipments of ferrous waste and scrap; of cast ira were finally on the rise to reach 13K tons after two years of decline. Over the period under review, exports, however, faced a dramatic decrease.

In value terms, exports of ferrous waste and scrap; of cast ira soared to $4.4M in 2022. In general, exports, however, showed a precipitous descent.

Top Export Markets for Ferrous Waste and Scrap; of Cast Iron from the Philippines in 2022:

1. Taiwan (Chinese) (5.6K tons)
2. Bangladesh (4.6K tons)
3. South Korea (1.0K tons)
4. India (0.8K tons)
5. Malaysia (0.3K tons)
6. Japan (0.2K tons)
7. Thailand (0.2K tons)

Source: IndexBox Market Intelligence Platform