Price for Nickel Oxides and Hydroxides in the Philippines - 2023

Contents:

1. Price for Nickel Oxides and Hydroxides in the Philippines (FOB) - 2023
2. Price for Nickel Oxides and Hydroxides in the Philippines (CIF) - 2022
3. Exports of Nickel Oxides and Hydroxides in the Philippines
4. Imports of Nickel Oxides and Hydroxides in the Philippines

Price for Nickel Oxides and Hydroxides in the Philippines (FOB) - 2023

The average nickel oxides and hydroxides export price stood at $23,443 per ton in June 2023, remaining constant against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average export price increased by 22% m-o-m. As a result, the export price reached the peak level of $30,210 per ton. From May 2023 to June 2023, the the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In June 2023, the country with the highest price was the United States ($24,722 per ton), while the average price for exports to Belgium ($21,407 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Nickel Oxides and Hydroxides in the Philippines (CIF) - 2022

In 2022, the average nickel oxides and hydroxides import price amounted to $4,387 per ton, picking up by 6.2% against the previous year. In general, the import price posted a notable expansion. The pace of growth appeared the most rapid in 2016 an increase of 167%. As a result, import price reached the peak level of $6,723 per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($5,387 per ton), while the price for Singapore ($3,850 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.9%).

Exports of Nickel Oxides and Hydroxides in the Philippines

Nickel oxides and hydroxides exports from the Philippines expanded notably to 664 tons in 2022, growing by 15% compared with 2021 figures. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +10.2% 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 +54.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 35% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, nickel oxides and hydroxides exports skyrocketed to $15M in 2022. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 81% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Nickel Oxides and Hydroxides from the Philippines in 2022:

1. Belgium (221.6 tons)
2. United States (168.3 tons)
3. Indonesia (130.8 tons)
4. Thailand (117.9 tons)
5. Taiwan (Chinese) (13.2 tons)
6. India (10.2 tons)

Imports of Nickel Oxides and Hydroxides in the Philippines

After two years of decline, supplies from abroad of nickel oxides and hydroxideses increased by 44% to 179 tons in 2022. Overall, imports, however, continue to indicate a mild decrease.

In value terms, nickel oxides and hydroxides imports soared to $784K in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Nickel Oxides and Hydroxides to the Philippines in 2022:

1. Switzerland (106.9 tons)
2. Singapore (50.3 tons)
3. France (21.4 tons)
4. Japan (0.2 tons)

Source: IndexBox Market Intelligence Platform