Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines - 2023
Contents:
- Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (CIF) - 2023
- Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (FOB) - 2022
- Imports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines
- Exports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines
Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (CIF) - 2023
In December 2023, the average import price for steel, alloy amounted to $3,029 per ton, shrinking by -6.6% against the previous month. Over the period under review, the import price showed a noticeable contraction. The growth pace was the most rapid in August 2023 an increase of 99% against the previous month. As a result, import price reached the peak level of $4,347 per ton. From September 2023 to December 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was China ($4,136 per ton), while the price for Taiwan (Chinese) ($671 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 China (-0.3%), while the prices for the other major suppliers experienced a decline.
Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (FOB) - 2022
In 2022, the average export price for steel, alloy amounted to $1,320 per ton, flattening at the previous year. In general, the export price, however, continues to indicate a abrupt shrinkage. Over the period under review, the average export prices hit record highs at $4,981 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($5,142 per ton), while the average price for exports to Hong Kong SAR ($724 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 Mexico (-3.0%), while the prices for the other major destinations experienced a decline.
Imports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines
In 2022, approx. 4.8K tons of steel, alloy were imported into the Philippines; rising by 32% compared with the year before. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 133% against the previous year. As a result, imports reached the peak of 6K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of steel, alloy skyrocketed to $13M in 2022. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 138%. As a result, imports attained the peak of $23M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 7.0 | 14.9 | 6.3 | 10.2 | 13.4% |
| China | 0.6 | 0.5 | 0.9 | 1.7 | 41.5% |
| Malaysia | 0.2 | 0.2 | 0.1 | 0.1 | -20.6% |
| Vietnam | 0.1 | 0.7 | 0.9 | 0.1 | 0.0% |
| Thailand | 1.1 | 4.3 | 1.5 | N/A | 16.8% |
| Others | 0.8 | 2.4 | 0.7 | 0.9 | 4.0% |
| Total | 9.6 | 23.0 | 10.3 | 13.0 | 10.6% |
Top Suppliers of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented to the Philippines in 2022:
- Japan (4145.0 tons)
- China (464.0 tons)
- Malaysia (62.7 tons)
- Vietnam (47.0 tons)
- Thailand (4.1 tons)
Exports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines
In 2022, overseas shipments of steel, alloy decreased by -47.7% to 597 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 pace of growth was the most pronounced in 2020 when exports increased by 2,154%.
In value terms, exports of steel, alloy shrank rapidly to $788K in 2022. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2020 when exports increased by 2,011%.
| Export of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 59.9 | 1,356 | 1,227 | 600 | 115.6% |
| Mexico | 4.5 | 73.1 | 87.8 | 98.0 | 179.3% |
| Hong Kong SAR | N/A | N/A | 174 | 90.0 | -48.3% |
| Others | 3.9 | 12.6 | N/A | N/A | 223.1% |
| Total | 68.3 | 1,442 | 1,489 | 788 | 126.0% |
Top Export Markets for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented from the Philippines in 2022:
- China (453.6 tons)
- Hong Kong SAR (124.3 tons)
- Mexico (19.1 tons)
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