Price for Hot-Rolled Steel Bar and Rod in the Philippines - 2023 - Charts and Tables - IndexBox.

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The average import price for hot-rolled steel bars and rods stood at $767 per ton in 2022, approximately reflecting the previous year. In general, the import price, however, showed a mild decline. The growth pace was the most rapid in 2021 an increase of 52% against the previous year. The import price peaked at $858 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($1,850 per ton), while the price for Russia ($702 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2022, the average export price for hot-rolled steel bars and rods amounted to $3,158 per ton, increasing by 298% against the previous year. In general, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2016 an increase of 403%. The export price peaked at $7,925 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Palau ($25,667 per ton), while the average price for exports to Micronesia ($1,035 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 Palau (+38.5%), while the prices for the other major destinations experienced more modest paces of growth.

In 2022, purchases abroad of hot-rolled steel bars and rods decreased by -17.7% to 601K tons, falling for the second consecutive year after two years of growth. Overall, imports saw a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 15%. As a result, imports attained the peak of 858K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports shrank markedly to $461M in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. As a result, imports attained the peak of $555M, and then shrank sharply in the following year.

Top Suppliers of Hot-Rolled Steel Bar and Rod to the Philippines in 2022:

In 2022, exports of hot-rolled steel bars and rods from the Philippines dropped significantly to 62 tons, declining by -99.4% on the year before. Overall, exports recorded a sharp contraction. The most prominent rate of growth was recorded in 2021 with an increase of 11,780%.

In value terms, hot-rolled steel bar and rod exports declined significantly to $197K in 2022. In general, exports faced a precipitous setback. The most prominent rate of growth was recorded in 2021 when exports increased by 7,239%.

Top Export Markets for Hot-Rolled Steel Bar and Rod from the Philippines in 2022:

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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A Quick Overview of Market Performance

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Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

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