Price for Nickel; Tube and Pipe Fittings in the Philippines - 2023

Contents:

1. Price for Nickel; Tube and Pipe Fittings in the Philippines (CIF) - 2022
2. Price for Nickel; Tube and Pipe Fittings in the Philippines (FOB) - 2022
3. Imports of Nickel; Tube and Pipe Fittings in the Philippines
4. Exports of Nickel; Tube and Pipe Fittings in the Philippines

Price for Nickel; Tube and Pipe Fittings in the Philippines (CIF) - 2022

The average import price for nickel; tube and pipe fittingses stood at $19,056 per ton in 2022, dropping by -24.5% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nickel; tube and pipe fittings import price increased by +17.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 62% against the previous year. Over the period under review, average import prices hit record highs at $27,885 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($50,831 per ton), while the price for India ($7,284 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Nickel; Tube and Pipe Fittings in the Philippines (FOB) - 2022

In 2022, the average export price for nickel; tube and pipe fittingses amounted to $5,364 per ton, declining by -17% against the previous year. Overall, the export price, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 26%. As a result, the export price reached the peak level of $6,462 per ton, and then contracted dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Micronesia ($6,125 per ton), while the average price for exports to Palau ($1,000 per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Micronesia (-10.0%), while the prices for the other major destinations experienced a decline.

Imports of Nickel; Tube and Pipe Fittings in the Philippines

In 2022, purchases abroad of nickel; tube and pipe fittingses decreased by -53.6% to 92 tons, falling for the second year in a row after two years of growth. Overall, imports faced a abrupt decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 394% against the previous year. As a result, imports reached the peak of 827 tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, nickel; tube and pipe fittings imports contracted sharply to $1.8M in 2022. In general, imports showed a sharp setback. The most prominent rate of growth was recorded in 2020 when imports increased by 278% against the previous year. As a result, imports reached the peak of $13M. From 2021 to 2022, the growth of imports failed to regain momentum.

Top Suppliers of Nickel; Tube and Pipe Fittings to the Philippines in 2022:

1. Japan (45.4 tons)
2. Taiwan (Chinese) (23.8 tons)
3. China (5.5 tons)
4. Indonesia (5.2 tons)
5. India (4.9 tons)
6. Hong Kong SAR (3.7 tons)
7. Singapore (1.3 tons)

Exports of Nickel; Tube and Pipe Fittings in the Philippines

After two years of growth, overseas shipments of nickel; tube and pipe fittingses decreased by -15.4% to 11 kg in 2022. In general, total exports indicated a significant expansion from 2020 to 2022: its volume increased at an average annual rate of +25.4% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 86% against the previous year. As a result, the exports attained the peak of 13 kg, and then plummeted in the following year.

In value terms, nickel; tube and pipe fittings exports dropped markedly to $59 in 2022. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 133% against the previous year. As a result, the exports attained the peak of $84, and then shrank remarkably in the following year.

Top Export Markets for Nickel; Tube and Pipe Fittings from the Philippines in 2022:

1. Micronesia (8.0 kg)
2. Canada (2.0 kg)
3. Palau (1.0 kg)

Source: IndexBox Market Intelligence Platform