Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines - 2024
Contents:
- Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines (CIF) - 2022
- Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines (FOB) - 2022
- Imports of Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines
- Exports of Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines
Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines (CIF) - 2022
In 2022, the average import price for tube or pipe butt welding fittings of stainless steels amounted to $12,575 per ton, increasing by 2.5% against the previous year. Over the period under review, the import price recorded strong growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 94%. As a result, import price attained the peak level of $22,998 per ton. From 2021 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($49,833 per ton), while the price for Taiwan (Chinese) ($4,091 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines (FOB) - 2022
The average export price for tube or pipe butt welding fittings of stainless steels stood at $9,764 per ton in 2022, picking up by 15% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for tube or pipe butt welding fittings of stainless steels increased by +103.4% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 75%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Spain ($12,100 per ton) and Malaysia ($11,762 per ton), while the average price for exports to Japan ($9,415 per ton) and the UK ($10,072 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines
In 2022, the amount of tube or pipe butt welding fittings of stainless steels imported into the Philippines soared to 383 tons, jumping by 163% against the year before. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of tube or pipe butt welding fittings of stainless steels skyrocketed to $4.8M in 2022. Overall, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 473 | 576 | 608 | 2,646 | 77.5% |
| India | 130 | 48.0 | 36.6 | 842 | 86.4% |
| Sweden | 64.3 | 74.0 | 293 | 489 | 96.7% |
| Singapore | 141 | 1,196 | 267 | 319 | 31.3% |
| Japan | 84.7 | 143 | 275 | 216 | 36.6% |
| United States | 131 | 458 | 87.7 | 80.5 | -15.0% |
| South Korea | 27.9 | 19.2 | 18.4 | 78.4 | 41.1% |
| Others | 513 | 237 | 201 | 143 | -34.7% |
| Total | 1,564 | 2,751 | 1,786 | 4,815 | 45.5% |
Top Suppliers of Tube or Pipe Butt Welding Fittings of Stainless Steel to the Philippines in 2022:
- China (244.1 tons)
- India (60.8 tons)
- Sweden (44.6 tons)
- Japan (8.6 tons)
- South Korea (8.3 tons)
- Singapore (6.4 tons)
- United States (5.1 tons)
Exports of Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines
In 2022, overseas shipments of tube or pipe butt welding fittings of stainless steels were finally on the rise to reach 144 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a precipitous shrinkage.
In value terms, exports of tube or pipe butt welding fittings of stainless steels soared to $1.4M in 2022. In general, exports, however, faced a precipitous curtailment.
| Export of Tube or Pipe Butt Welding Fittings of Stainless Steel in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3,497 | 1,690 | 224 | 982 | -34.5% |
| United States | 4,022 | 964 | 311 | 206 | -62.9% |
| United Kingdom | 207 | 62.0 | 181 | 137 | -12.9% |
| Spain | 222 | 319 | N/A | 47.6 | -40.1% |
| Malaysia | 567 | 25.5 | N/A | 33.3 | -61.1% |
| Canada | 213 | 67.2 | N/A | N/A | -68.5% |
| Others | 88.9 | 59.1 | 25.7 | N/A | -46.2% |
| Total | 8,818 | 3,187 | 742 | 1,406 | -45.8% |
Top Export Markets for Tube or Pipe Butt Welding Fittings of Stainless Steel from the Philippines in 2022:
- Japan (104.3 tons)
- United States (19.3 tons)
- United Kingdom (13.6 tons)
- Spain (3.9 tons)
- Malaysia (2.8 tons)
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