Sulphates; of Nickel Price in the Philippines - 2023
Contents:
- Sulphates; of Nickel Price in the Philippines (CIF) - 2023
- Sulphates; of Nickel Price in the Philippines (FOB) - 2022
- Sulphates; of Nickel Imports in the Philippines
- Sulphates; of Nickel Exports in the Philippines
Sulphates; of Nickel Price in the Philippines (CIF) - 2023
In June 2023, the average sulphates; of nickel import price amounted to $6,314 per ton, growing by 32% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 an increase of 34% month-to-month. Over the period under review, average import prices reached the maximum at $6,652 per ton in July 2022; however, from August 2022 to June 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Japan ($11,059 per ton), while the price for South Africa ($4,120 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Belgium (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Sulphates; of Nickel Price in the Philippines (FOB) - 2022
In 2022, the average sulphates; of nickel export price amounted to $2,667 per ton, declining by -3.4% against the previous year. In general, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2014 when the average export price increased by 29% against the previous year. The export price peaked at $4,859 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Japan.
From 2012 to 2022, the rate of growth in terms of prices for South Korea amounted to +12.5% per year.
Sulphates; of Nickel Imports in the Philippines
Sulphates; of nickel imports into the Philippines skyrocketed to 6.3K tons in 2022, increasing by 37% against the previous year's figure. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +11.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, sulphates; of nickel imports surged to $32M in 2022. In general, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Sulphates; of Nickel in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 2.7 | 2.1 | 0.7 | 17.5 | 86.4% |
| Japan | 2.8 | 3.2 | 3.7 | 5.1 | 22.1% |
| Taiwan (Chinese) | 0.5 | 0.3 | 0.5 | 4.4 | 106.5% |
| Belgium | 2.4 | 1.0 | 2.2 | 4.4 | 22.4% |
| Singapore | 0.1 | N/A | 0.2 | 0.5 | 71.0% |
| Poland | 3.6 | 3.0 | 1.6 | N/A | -33.3% |
| Others | 0.6 | 0.5 | 8.2 | 0.1 | -45.0% |
| Total | 12.7 | 10.0 | 17.1 | 32.0 | 36.1% |
Top Suppliers of Sulphates; of Nickel to the Philippines in 2022:
- South Korea (2.9K tons)
- Belgium (1.4K tons)
- Japan (1.2K tons)
- Taiwan (Chinese) (0.5K tons)
- Singapore (0.1K tons)
Sulphates; of Nickel Exports in the Philippines
In 2022, shipments abroad of sulphates; of nickels decreased by 99.9% to 165 kg for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 526%. As a result, the exports attained the peak of 775 tons, and then contracted significantly in the following year.
In value terms, sulphates; of nickel exports dropped sharply to $439 in 2022. Overall, exports showed a precipitous setback. The most prominent rate of growth was recorded in 2021 with an increase of 575%. As a result, the exports attained the peak of $2.1M, and then shrank significantly in the following year.
| Export of Sulphates; of Nickel in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1.6 | 1.3 | 1.6 | 0.4 | -37.0% |
| Belgium | 19.0 | 14.0 | 17.3 | N/A | -4.6% |
| Germany | 220 | 98.4 | 526 | N/A | 54.6% |
| United States | N/A | 120 | N/A | N/A | 0% |
| India | 32.8 | 72.4 | 38.9 | N/A | 8.9% |
| Singapore | 5.0 | 3.8 | 5.0 | N/A | 0.0% |
| Australia | N/A | N/A | 281 | N/A | 0% |
| Others | 10.6 | 7.1 | 1,269 | N/A | 994.2% |
| Total | 289 | 317 | 2,139 | 0.4 | -88.9% |
Top Export Markets for Sulphates; of Nickel from the Philippines in 2022:
- Japan (165.0 kg)
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