Salts; Tungstates (Wolframates) Price in the Philippines - 2023
Contents:
- Salts; Tungstates (Wolframates) Price in the Philippines (FOB) - 2022
- Salts; Tungstates (Wolframates) Price in the Philippines (CIF) - 2022
- Salts; Tungstates (Wolframates) Exports in the Philippines
- Salts; Tungstates (Wolframates) Imports in the Philippines
Salts; Tungstates (Wolframates) Price in the Philippines (FOB) - 2022
The average salts; tungstates (wolframates) export price stood at $4,389 per ton in 2022, which is down by -37.2% against the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 69%. As a result, the export price attained the peak level of $11,435 per ton. From 2019 to 2022, the average 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 China ($10,861 per ton), while the average price for exports to Vietnam ($1,407 per ton) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.5%), while the prices for the other major destinations experienced a decline.
Salts; Tungstates (Wolframates) Price in the Philippines (CIF) - 2022
In 2022, the average salts; tungstates (wolframates) import price amounted to $58,532 per ton, jumping by 30% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for Japan.
From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +0.6% per year.
Salts; Tungstates (Wolframates) Exports in the Philippines
In 2022, overseas shipments of salts; tungstates (wolframates) increased by 84% to 321 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a dramatic decline.
In value terms, salts; tungstates (wolframates) exports surged to $1.4M in 2022. Overall, exports, however, faced a significant contraction.
| Export of Salts; Tungstates (Wolframates) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 9.3 | 4.0 | 0.9 | 1.1 | -50.9% |
| United States | 2.4 | 0.5 | 0.2 | 0.2 | -56.3% |
| Vietnam | 0.2 | N/A | 0.1 | 0.1 | -20.6% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 11.9 | 4.6 | 1.2 | 1.4 | -51.0% |
Top Export Markets for Salts; Tungstates (Wolframates) from the Philippines in 2022:
- United States (161.5 tons)
- China (101.3 tons)
- Vietnam (58.4 tons)
Salts; Tungstates (Wolframates) Imports in the Philippines
In 2022, salts; tungstates (wolframates) imports into the Philippines reduced markedly to 87 kg, which is down by -56.5% against 2021 figures. In general, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 300%. As a result, imports reached the peak of 200 kg, and then dropped markedly in the following year.
In value terms, salts; tungstates (wolframates) imports contracted rapidly to $5.1K in 2022. Over the period under review, imports saw a perceptible curtailment. The growth pace was the most rapid in 2021 when imports increased by 266%. As a result, imports attained the peak of $9K, and then plummeted in the following year.
| Import of Salts; Tungstates (Wolframates) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 4.8 | 2.5 | 9.0 | 5.1 | 2.0% |
| Others | 0.8 | N/A | N/A | N/A | 0% |
| Total | 5.6 | 2.5 | 9.0 | 5.1 | -3.1% |
Top Suppliers of Salts; Tungstates (Wolframates) to the Philippines in 2022:
- Japan (86.0 kg)
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