Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines - 2023
Contents:
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines (FOB) - 2023
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines (CIF) - 2023
- Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines
- Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines (FOB) - 2023
In November 2023, the average export price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) amounted to $168 per ton, picking up by 428% against the previous month. Overall, the export price enjoyed prominent growth. Over the period under review, the average export prices hit record highs at $177 per ton in March 2023; however, from April 2023 to November 2023, 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 November 2022 to November 2023, the rate of growth in terms of prices for Japan amounted to +11.2% per month.
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines (CIF) - 2023
In November 2023, the average import price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) amounted to $201 per ton, approximately reflecting the previous month. In general, the import price continues to indicate a slight increase. The pace of growth was the most pronounced in June 2023 an increase of 5.4% month-to-month. Over the period under review, average import prices reached the maximum in November 2023.
As there is only one major supplying country, the average price level is determined by prices for Brazil.
From May 2023 to November 2023, the rate of growth in terms of prices for Brazil amounted to +1.5% per month.
Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines
In 2022, shipments abroad of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) decreased by -23.5% to 4.4M tons, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 287% against the previous year. As a result, the exports reached the peak of 11M tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) soared to $130M in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 265% against the previous year. As a result, the exports attained the peak of $211M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 56.7 | 210 | 97.3 | 130 | 31.9% |
| Others | 1.1 | 0.9 | 1.2 | N/A | 4.4% |
| Total | 57.9 | 211 | 98.5 | 130 | 30.9% |
Top Export Markets for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) from the Philippines in 2022:
- Japan (4.4M tons)
Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines
After two years of decline, overseas purchases of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) increased by 136% to 371K tons in 2022. Over the period under review, imports, however, continue to indicate a abrupt setback.
In value terms, imports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) surged to $72M in 2022. In general, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 41.7 | N/A | 33.6 | 72.0 | 20.0% |
| Indonesia | 1.1 | 0.3 | N/A | N/A | -72.7% |
| Canada | N/A | 31.0 | N/A | N/A | 0% |
| Australia | 10.8 | N/A | N/A | N/A | 0% |
| Saudi Arabia | 2.4 | N/A | N/A | N/A | 0% |
| Ukraine | N/A | 8.1 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 56.1 | 39.4 | 33.6 | 72.0 | 8.7% |
Top Suppliers of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) to the Philippines in 2022:
- Brazil (371.3K tons)
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This report provides an in-depth analysis of the roasted iron pyrites market in the Philippines.
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