Aluminium Wire Price in the Philippines - 2023
Contents:
- Aluminium Wire Price in the Philippines (CIF) - 2022
- Aluminium Wire Price in the Philippines (FOB) - 2022
- Aluminium Wire Imports in the Philippines
- Aluminium Wire Exports in the Philippines
Aluminium Wire Price in the Philippines (CIF) - 2022
The average aluminium wire import price stood at $2,928 per ton in 2022, which is down by -12.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 24%. The import price peaked at $3,655 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($16,584 per ton), while the price for Bahrain ($873 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Aluminium Wire Price in the Philippines (FOB) - 2022
In 2022, the average aluminium wire export price amounted to $4,293 per ton, surging by 13% against the previous year. Over the period under review, the export price enjoyed tangible growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 95%. Over the period under review, the average export prices reached the maximum at $4,754 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($19,190 per ton), while the average price for exports to Micronesia ($528 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.
Aluminium Wire Imports in the Philippines
Aluminium wire imports into the Philippines totaled 2.9K tons in 2022, approximately equating 2021 figures. Overall, imports, however, saw a precipitous curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year.
In value terms, aluminium wire imports fell to $8.4M in 2022. Over the period under review, imports, however, showed a dramatic decrease. The pace of growth was the most pronounced in 2021 with an increase of 32% against the previous year.
| Import of Aluminium Wire in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 1.9 | 2.2 | 2.7 | 2.4 | 8.1% |
| Thailand | 13.7 | 2.1 | 2.7 | 2.4 | -44.0% |
| Indonesia | 5.4 | 1.3 | 1.4 | 1.3 | -37.8% |
| South Korea | 3.3 | 0.6 | 1.3 | 1.1 | -30.7% |
| China | 3.3 | 0.5 | 0.9 | 0.8 | -37.6% |
| Malaysia | 1.5 | 0.3 | 0.2 | 0.2 | -48.9% |
| Bahrain | 1.4 | 0.1 | 0.1 | 0.1 | -58.5% |
| Taiwan (Chinese) | 0.4 | N/A | N/A | N/A | 0% |
| Others | 2.6 | 0.2 | 0.2 | 0.1 | -66.2% |
| Total | 33.4 | 7.2 | 9.5 | 8.4 | -36.9% |
Top Suppliers of Aluminium Wire to the Philippines in 2022:
- Indonesia (1031.2 tons)
- South Korea (901.4 tons)
- Thailand (451.6 tons)
- China (147.0 tons)
- Singapore (143.8 tons)
- Malaysia (66.3 tons)
- Bahrain (61.7 tons)
- Taiwan (Chinese) (10.9 tons)
Aluminium Wire Exports in the Philippines
In 2022, overseas shipments of aluminium wires decreased by -27.5% to 155 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 163%.
In value terms, aluminium wire exports declined significantly to $667K in 2022. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 136% against the previous year.
| Export of Aluminium Wire in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 26.5 | 141 | 558 | 453 | 157.6% |
| Hong Kong SAR | 69.5 | 49.6 | 80.1 | 65.1 | -2.2% |
| China | 1.0 | 59.8 | 45.9 | 37.3 | 234.1% |
| Singapore | 5.3 | 63.5 | 34.9 | 28.3 | 74.8% |
| United States | 18.3 | 40.9 | 28.3 | 28.1 | 15.4% |
| India | 24.2 | 43.3 | 18.0 | 15.5 | -13.8% |
| Vietnam | 11.8 | 26.6 | 18.7 | 15.2 | 8.8% |
| Micronesia | 11.6 | 22.6 | 10.2 | 9.6 | -6.1% |
| Others | 51.6 | 70.3 | 22.6 | 15.3 | -33.3% |
| Total | 220 | 518 | 816 | 667 | 44.7% |
Top Export Markets for Aluminium Wire from the Philippines in 2022:
- Germany (84.4 tons)
- Micronesia (18.2 tons)
- India (15.7 tons)
- Vietnam (10.8 tons)
- United States (8.3 tons)
- Singapore (7.3 tons)
- China (4.4 tons)
- Hong Kong SAR (3.4 tons)
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