Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR (FOB) - 2023
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR (CIF) - 2023
- Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR
- Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR
Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR (FOB) - 2023
The average export price for ferrous waste and scrap; of alloy steel (excluding stainless)s stood at $1,722 per ton in November 2023, declining by -27.8% against the previous month. Over the period under review, export price indicated a notable expansion from December 2022 to November 2023: its price increased at an average monthly rate of +2.6% over the last eleven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for ferrous waste and scrap; of alloy steel (excluding stainless)s increased by +51.5% against September 2023 indices. The pace of growth appeared the most rapid in October 2023 when the average export price increased by 110% against the previous month. As a result, the export price reached the peak level of $2,384 per ton, and then dropped dramatically in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was China ($3,223 per ton), while the average price for exports to Vietnam ($749 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+29.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR (CIF) - 2023
The average import price for ferrous waste and scrap; of alloy steel (excluding stainless)s stood at $938 per ton in November 2023, shrinking by -52.1% against the previous month. Overall, the import price, however, showed moderate growth. The most prominent rate of growth was recorded in October 2023 an increase of 138% month-to-month. As a result, import price reached the peak level of $1,958 per ton, and then fell remarkably in the following month.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was China ($1,235 per ton), while the price for the United States amounted to $769 per ton.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.8%), while the prices for the other major suppliers experienced a decline.
Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR
Exports of ferrous waste and scrap; of alloy steel (excluding stainless)s from Hong Kong SAR declined significantly to 8.2K tons in 2022, waning by -21.6% on 2021 figures. Over the period under review, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 136%.
In value terms, exports of ferrous waste and scrap; of alloy steel (excluding stainless)s contracted notably to $5.4M in 2022. Overall, exports showed a dramatic contraction. The pace of growth was the most pronounced in 2021 when exports increased by 176% against the previous year.
| Export of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | N/A | N/A | 1.6 | 3.0 | 87.5% |
| China | 7.8 | 0.3 | 3.0 | 1.1 | -47.9% |
| South Korea | N/A | N/A | 0.3 | 0.4 | 33.3% |
| Pakistan | 0.9 | 0.1 | N/A | 0.3 | -30.7% |
| Malaysia | 7.0 | 2.5 | 3.1 | 0.2 | -69.4% |
| Thailand | 0.4 | N/A | 0.3 | 0.2 | -20.6% |
| Philippines | 1.2 | N/A | N/A | 0.1 | -56.3% |
| Others | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Total | 17.5 | 3.0 | 8.2 | 5.4 | -32.4% |
Top Export Markets for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) from Hong Kong SAR in 2022:
- Vietnam (5.9K tons)
- China (0.7K tons)
- Pakistan (0.5K tons)
- South Korea (0.5K tons)
- Malaysia (0.3K tons)
- Thailand (0.2K tons)
- Philippines (0.1K tons)
Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR
After two years of decline, supplies from abroad of ferrous waste and scrap; of alloy steel (excluding stainless)s increased by 26% to 1.9K tons in 2022. In general, imports, however, faced a precipitous decrease.
In value terms, imports of ferrous waste and scrap; of alloy steel (excluding stainless)s soared to $1.8M in 2022. Overall, imports, however, faced a abrupt setback.
| Import of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 106 | 88.6 | 17.1 | 1,103 | 118.3% |
| United States | 2,092 | 518 | 183 | 558 | -35.6% |
| China | 394 | 347 | 33.2 | 44.3 | -51.7% |
| Japan | 61.6 | 143 | 39.2 | 40.9 | -12.8% |
| South Korea | N/A | N/A | 338 | 14.6 | -95.7% |
| Italy | N/A | N/A | 194 | N/A | 0% |
| Others | 414 | 52.2 | 126 | 9.9 | -71.2% |
| Total | 3,068 | 1,149 | 930 | 1,770 | -16.8% |
Top Suppliers of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) to Hong Kong SAR in 2022:
- Malaysia (860.1 tons)
- United States (810.7 tons)
- China (122.9 tons)
- Japan (64.0 tons)
- South Korea (18.9 tons)
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in Hong Kong SAR, China.
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in Hong Kong SAR, China.
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This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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