Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines - 2023
Contents:
- Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines (CIF) - 2023
- Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines (FOB) - 2022
- Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines
- Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines
Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines (CIF) - 2023
The average import price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s stood at $2,124 per ton in June 2023, jumping by 60% against the previous month. Overall, the import price, however, recorded a deep setback. The most prominent rate of growth was recorded in March 2023 an increase of 60% m-o-m. The import price peaked at $4,234 per ton in January 2023; however, from February 2023 to June 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Japan ($4,343 per ton), while the price for China ($1,426 per ton) was amongst the lowest.
From December 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.1%), while the prices for the other major suppliers experienced a decline.
Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines (FOB) - 2022
The average export price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s stood at $14,085 per ton in 2022, growing by 164% against the previous year. Overall, the export price showed a noticeable increase. The pace of growth appeared the most rapid in 2014 when the average export price increased by 562%. As a result, the export price attained the peak level of $97,183 per ton. From 2015 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($15,963 per ton), while the average price for exports to Papua New Guinea amounted to $3,286 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines
In 2022, the amount of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s imported into the Philippines shrank rapidly to 3K tons, waning by -41.1% against 2021 figures. Overall, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. As a result, imports attained the peak of 5.2K tons, and then dropped sharply in the following year.
In value terms, imports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s shrank significantly to $11M in 2022. Over the period under review, imports continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 47%. As a result, imports attained the peak of $15M, and then reduced dramatically in the following year.
| Import of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.4 | 0.9 | 5.0 | 5.0 | 52.9% |
| Thailand | N/A | 0.1 | 3.2 | 2.7 | 419.6% |
| Malaysia | 4.1 | 4.1 | 1.6 | 1.0 | -37.5% |
| Taiwan (Chinese) | 2.1 | 2.6 | 2.1 | 0.8 | -27.5% |
| Japan | 0.8 | 0.8 | 1.0 | 0.7 | -4.4% |
| Australia | 0.3 | 0.5 | 0.7 | 0.6 | 26.0% |
| South Korea | 0.4 | 0.3 | 0.7 | N/A | 32.3% |
| Singapore | 1.8 | 0.3 | 0.4 | N/A | -52.9% |
| Others | 0.6 | 0.6 | 0.3 | 0.2 | -30.7% |
| Total | 11.5 | 10.3 | 15.1 | 11.1 | -1.2% |
Top Suppliers of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 to the Philippines in 2022:
- China (1368.2 tons)
- Thailand (719.5 tons)
- Taiwan (Chinese) (517.7 tons)
- Malaysia (211.6 tons)
- Japan (117.8 tons)
- Australia (55.2 tons)
- South Korea (7.7 tons)
- Singapore (2.9 tons)
Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines
In 2022, the amount of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s exported from the Philippines shrank remarkably to 4.8 tons, declining by -82.1% against the previous year's figure. In general, exports faced a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 43%.
In value terms, exports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s reduced sharply to $68K in 2022. Over the period under review, exports saw a significant contraction. The most prominent rate of growth was recorded in 2021 with an increase of 17%.
| Export of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 6.1 | N/A | 21.0 | 65.6 | 120.7% |
| Papua New Guinea | N/A | N/A | N/A | 2.3 | 0% |
| Vietnam | 24.3 | 41.8 | 8.4 | N/A | -41.2% |
| Malaysia | 374 | 81.3 | 39.9 | N/A | -67.3% |
| Singapore | 7.3 | N/A | 72.3 | N/A | 214.7% |
| Others | 0.6 | N/A | 2.5 | 0.1 | -45.0% |
| Total | 413 | 123 | 144 | 68.0 | -45.2% |
Top Export Markets for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 from the Philippines in 2022:
- Hong Kong SAR (4.1 tons)
- Papua New Guinea (0.7 tons)
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