Price for Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines - 2023

Contents:

1. Price for Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines (CIF) - 2022
2. Price for Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines (FOB) - 2022
3. Imports of Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines
4. Exports of Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines

Price for Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines (CIF) - 2022

In 2022, the average import price for platinum; unwrought or in semi-manufactured formses amounted to $1,649,908 per ton, picking up by 14% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for platinum; unwrought or in semi-manufactured formses decreased by -33.2% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 55%. The import price peaked at $2,471,658 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($7,738,128 per ton), while the price for South Korea ($884,714 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+23.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines (FOB) - 2022

The average export price for platinum; unwrought or in semi-manufactured formses stood at $6,003,750 per ton in 2022, waning by -5% against the previous year. Overall, the export price, however, enjoyed significant growth. The pace of growth was the most pronounced in 2015 when the average export price increased by 380%. Over the period under review, the average export prices attained the peak figure at $9,257,769 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 Japan amounted to +30.9% per year.

Imports of Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines

Imports of platinum; unwrought or in semi-manufactured formses into the Philippines skyrocketed to 1.2 tons in 2022, picking up by 68% compared with 2021 figures. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 332% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, imports of platinum; unwrought or in semi-manufactured formses skyrocketed to $2M in 2022. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 193%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.

Top Suppliers of Platinum; Unwrought or in Semi-Manufactured Forms to the Philippines in 2022:

1. Japan (1051.0 kg)
2. Hong Kong SAR (94.0 kg)
3. United States (8.0 kg)

Exports of Platinum; Unwrought or in Semi-Manufactured Forms in the Philippines

In 2022, shipments abroad of platinum; unwrought or in semi-manufactured formses decreased by -63.6% to 4 kg, falling for the second year in a row after two years of growth. In general, exports continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 54% against the previous year. As a result, the exports reached the peak of 20 kg. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of platinum; unwrought or in semi-manufactured formses declined dramatically to $24K in 2022. Over the period under review, exports recorded a precipitous shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 32%. As a result, the exports reached the peak of $159K. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Platinum; Unwrought or in Semi-Manufactured Forms from the Philippines in 2022:

1. Japan (4.0 kg)

Source: IndexBox Market Intelligence Platform