Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines (CIF) - 2024
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines (FOB) - 2022
- Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines
- Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines (CIF) - 2024
The average import price for iron or non-alloy steel wire, not plated or coateds stood at $750 per ton in December 2023, with a decrease of -5.8% against the previous month. Over the last eleven months, it increased at an average monthly rate of +3.0%. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 32% month-to-month. Over the period under review, average import prices attained the peak figure at $864 per ton in October 2023; however, from November 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 Japan ($8,148 per ton), while the price for Thailand ($715 per ton) was amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Japan (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines (FOB) - 2022
In 2022, the average export price for iron or non-alloy steel wire, not plated or coateds amounted to $1,937 per ton, jumping by 36% against the previous year. Over the period under review, the export price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of 28,691%. As a result, the export price reached the peak level of $1,943 per kg; afterwards, it flattened through to 2022.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($5,409 per ton), while the average price for exports to Thailand ($1,633 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 (+74.4%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines
In 2022, the amount of iron or non-alloy steel wire, not plated or coateds imported into the Philippines skyrocketed to 54K tons, rising by 52% against 2021. In general, total imports indicated notable growth from 2019 to 2022: its volume increased at an average annual rate of +2.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of iron or non-alloy steel wire, not plated or coateds surged to $30M in 2022. Overall, imports, however, saw a pronounced decline.
| Import of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 29.7 | 17.6 | 23.0 | 27.0 | -3.1% |
| Japan | 1.1 | 1.4 | 0.9 | 1.5 | 10.9% |
| Malaysia | 1.7 | 0.4 | 0.3 | 0.5 | -33.5% |
| Others | 2.1 | 3.8 | 1.2 | 1.3 | -14.8% |
| Total | 34.6 | 23.2 | 25.4 | 30.3 | -4.3% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Not Plated or Coated to the Philippines in 2022:
- China (51.8K tons)
- Japan (0.9K tons)
- Malaysia (0.4K tons)
Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines
In 2022, shipments abroad of iron or non-alloy steel wire, not plated or coateds decreased by -20% to 25 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 2,122%. As a result, the exports attained the peak of 32 tons, and then dropped dramatically in the following year.
In value terms, exports of iron or non-alloy steel wire, not plated or coateds rose significantly to $49K in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +19.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 28%. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in years to come.
| Export of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | N/A | N/A | 38.8 | 36.1 | -7.0% |
| Finland | 2.9 | 2.3 | 1.5 | 9.3 | 47.5% |
| Japan | N/A | 5.6 | N/A | 3.4 | -22.1% |
| China | 17.1 | 28.5 | 3.3 | 0.1 | -82.0% |
| Others | 8.9 | 0.6 | 1.2 | N/A | -63.3% |
| Total | 28.9 | 37.0 | 44.9 | 48.9 | 19.2% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Not Plated or Coated from the Philippines in 2022:
- Thailand (22.1 tons)
- Finland (1.7 tons)
- Japan (1.4 tons)
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This report provides an in-depth analysis of the market for iron and steel wire in the Philippines.
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This report provides an in-depth analysis of the market for iron and steel wire in the Philippines.
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This report provides an in-depth analysis of the market for iron and steel wire in the Philippines.
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This report provides an in-depth analysis of the global market for iron and steel wire.
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