Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK - 2024
Contents:
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK (FOB) - 2024
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK (CIF) - 2022
- Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK
- Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK
Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK (FOB) - 2024
The average export price for ferrous waste and scrap; of alloy steel (excluding stainless)s stood at $485 per ton in January 2024, increasing by 5.9% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2023 when the average export price increased by 7.3% against the previous month. Over the period under review, the average export prices hit record highs at $531 per ton in July 2023; however, from August 2023 to January 2024, the export prices remained at a lower figure.
Average prices varied somewhat for the major foreign markets. In January 2024, the highest price was recorded for prices to Indonesia ($523 per ton) and India ($486 per ton), while the average price for exports to Bangladesh ($407 per ton) and Pakistan ($451 per ton) were amongst the lowest.
From February 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK (CIF) - 2022
In 2022, the average import price for ferrous waste and scrap; of alloy steel (excluding stainless)s amounted to $447 per ton, surging by 6.3% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 131% against the previous year. The import price peaked at $3,700 per ton in 2014; however, from 2015 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 the Netherlands ($3,065 per ton), while the price for Mexico ($411 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK
In 2022, the amount of ferrous waste and scrap; of alloy steel (excluding stainless)s exported from the UK shrank significantly to 745K tons, declining by -26.1% against the previous year. Overall, exports continue to indicate a deep slump. The growth pace was the most rapid in 2021 when exports increased by 32%. As a result, the exports reached the peak of 1M tons, and then dropped sharply in the following year.
In value terms, exports of ferrous waste and scrap; of alloy steel (excluding stainless)s declined markedly to $394M in 2022. In general, exports, however, recorded resilient growth. The growth pace was the most rapid in 2021 when exports increased by 96% against the previous year. As a result, the exports attained the peak of $521M, and then declined dramatically in the following year.
| Export of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Pakistan | 96.9 | 106 | 169 | 138 | 12.5% |
| India | 88.4 | 67.2 | 55.7 | 136 | 15.4% |
| Bangladesh | 40.9 | 27.0 | 152 | 41.0 | 0.1% |
| Indonesia | 49.2 | 26.8 | 16.2 | 21.5 | -24.1% |
| Malaysia | 7.8 | 12.0 | 70.7 | 5.1 | -13.2% |
| Morocco | N/A | N/A | 0.1 | 4.4 | 4300.0% |
| Others | 28.7 | 26.4 | 57.8 | 48.7 | 19.3% |
| Total | 312 | 265 | 521 | 394 | 8.1% |
Top Export Markets for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) from the UK in 2022:
- Pakistan (262.6K tons)
- India (256.9K tons)
- Bangladesh (91.0K tons)
- Indonesia (41.9K tons)
- Morocco (15.3K tons)
- Malaysia (9.3K tons)
Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK
For the fourth consecutive year, the UK recorded growth in purchases abroad of ferrous waste and scrap; of alloy steel (excluding stainless)s, which increased by 68% to 27K tons in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 185% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see gradual growth in the near future.
In value terms, imports of ferrous waste and scrap; of alloy steel (excluding stainless)s dropped to $12M in 2022. Overall, imports showed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 91% against the previous year.
| Import of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | N/A | 4.0 | 11.0 | 10.2 | 59.7% |
| Norway | N/A | N/A | N/A | 0.8 | 0% |
| Netherlands | 2.1 | 1.3 | 0.4 | 0.4 | -42.5% |
| Iceland | 0.2 | N/A | 0.2 | 0.1 | -20.6% |
| United States | 0.1 | 1.4 | 0.4 | N/A | 100.0% |
| Others | 1.5 | 0.6 | 1.5 | 0.6 | -26.3% |
| Total | 3.8 | 7.2 | 13.6 | 12.0 | 46.7% |
Top Suppliers of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) to the UK in 2022:
- Mexico (24.8K tons)
- Norway (1.3K tons)
- Iceland (0.2K tons)
- Netherlands (0.1K tons)
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in the UK.
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This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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