Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines - 2023
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines (CIF) - 2023
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines (FOB) - 2022
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines (CIF) - 2023
In September 2023, the average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $2,640 per ton, picking up by 84% against the previous month. In general, the import price saw a prominent increase. The most prominent rate of growth was recorded in November 2022 an increase of 638% against the previous month. Over the period under review, average import prices reached the peak figure at $8,088 per ton in April 2023; however, from May 2023 to September 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was South Korea ($29,010 per ton), while the price for Taiwan (Chinese) ($591 per ton) was amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was attained by South Korea (+23.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines (FOB) - 2022
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $3,000 per ton in 2022, stabilizing at the previous year. Overall, the export price continues to indicate a mild increase. The most prominent rate of growth was recorded in 2014 an increase of 173%. As a result, the export price reached the peak level of $6,592 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($4,200 per ton), while the average price for exports to China ($1,000 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 South Korea (+17.2%), while the prices for the other major destinations experienced a decline.
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines
In 2022, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s into the Philippines dropped dramatically to 75 tons, reducing by -78.5% compared with 2021. Over the period under review, imports faced a significant decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 153%. As a result, imports reached the peak of 348 tons, and then shrank sharply in the following year.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s declined to $591K in 2022. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 139%. As a result, imports attained the peak of $660K, and then contracted in the following year.
Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 15.2 | 3.9 | 11.8 | 499 | 220.2% |
Taiwan (Chinese) | 7.6 | 1.1 | 2.4 | 87.3 | 125.6% |
Iran | 482 | 270 | 645 | N/A | 15.7% |
Others | 2.9 | 1.4 | 1.6 | 4.5 | 15.8% |
Total | 508 | 276 | 660 | 591 | 5.2% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to the Philippines in 2022:
- Japan (54.8 tons)
- Taiwan (Chinese) (19.6 tons)
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines
In 2022, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s from the Philippines stood at 8 kg, approximately mirroring the previous year. Overall, exports continue to indicate a precipitous shrinkage. The smallest decline of 99.9% was in 2020.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $24 in 2022. Over the period under review, exports saw a sharp decline. The smallest decline of 99.9% was in 2020.
Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
South Korea | 331 | N/A | N/A | N/A | 0% |
Japan | 0.4 | N/A | N/A | N/A | 0% |
China | 4.3 | N/A | N/A | N/A | 0% |
Taiwan (Chinese) | 0.3 | N/A | N/A | N/A | 0% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 336 | N/A | N/A | N/A | 0% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from the Philippines in 2022:
- South Korea (5.0 kg)
- Japan (1.0 kg)
- China (1.0 kg)
- Taiwan (Chinese) (1.0 kg)
This report provides an in-depth analysis of the non-alloy steel ingot market in the Philippines.
This report provides an in-depth analysis of the market for raw steel and steel semi-finished products in the Philippines.
This report provides an in-depth analysis of the iron and steel market in the Philippines.
Global Non-Alloy Steel Ingot Market Report 2018. This report provides an in-depth analysis of the global non-alloy steel ingot market.
This report provides an in-depth analysis of the global market for raw steel and steel semi-finished products.
This report provides an in-depth analysis of the global iron and steel market.
This report provides an in-depth analysis of the non-alloy steel ingot market in the Philippines.
This report provides an in-depth analysis of the market for raw steel and steel semi-finished products in the Philippines.
Global Non-Alloy Steel Ingot Market Report 2018. This report provides an in-depth analysis of the global non-alloy steel ingot market.
This report provides an in-depth analysis of the global market for raw steel and steel semi-finished products.
Explore the top import markets for raw steel and steel semi-finished products worldwide. Get key statistics and insights from the IndexBox market intelligence platform.
The beginning of 2021 saw a sharp increase in the steel demand, while metallurgical plants were still recovering from the operational downtime incurred during the lockdown. This market disbalance leads to an increase in steel prices. The recovery of the automotive sector and other downstream industries in 2020, at a faster pace than expected, generates the conditions for robust steel demand in the medium term.
In value terms, ferro-cerium and other pyrophoric alloys imports amounted to $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern ind...
In value terms, ferro-cerium and other pyrophoric alloys exports totaled $X in 2016. In general, ferro-cerium and other pyrophoric alloys exports continue to indicate a relatively flat trend patter...
In 2016, approx. X tons of steel were imported worldwide- moving up by X% against the previous year level. In general, steel imports continue to indicate a relatively flat trend pattern. The pace...
In 2016, approx. X tons of steel were imported worldwide- moving up by X% against the previous year level. In general, steel imports continue to indicate a relatively flat trend pattern. The pace...
Discover the leading countries in the global iron and steel import market and their key statistics. Learn about the trends and factors driving the demand for these crucial materials.
Explore the top import markets for raw steel and steel semi-finished products worldwide. Get key statistics and insights from the IndexBox market intelligence platform.
The beginning of 2021 saw a sharp increase in the steel demand, while metallurgical plants were still recovering from the operational downtime incurred during the lockdown. This market disbalance leads to an increase in steel prices. The recovery of the automotive sector and other downstream industries in 2020, at a faster pace than expected, generates the conditions for robust steel demand in the medium term.
In value terms, ferro-cerium and other pyrophoric alloys imports amounted to $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern ind...