Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States - 2024
Contents:
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States (FOB) - 2024
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States (CIF) - 2024
- Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States
- Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States
Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States (FOB) - 2024
The average export price for ferrous waste and scrap; of alloy steel (excluding stainless)s stood at $610 per ton in February 2024, falling by -2.9% against the previous month. Overall, the export price recorded a perceptible reduction. The growth pace was the most rapid in June 2023 when the average export price increased by 36% against the previous month. The export price peaked at $783 per ton in March 2023; however, from April 2023 to February 2024, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In February 2024, the country with the highest price was Malaysia ($1,387 per ton), while the average price for exports to Saint Maarten (Dutch part) ($130 per ton) was amongst the lowest.
From March 2023 to February 2024, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+3.2%), 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 United States (CIF) - 2024
The average import price for ferrous waste and scrap; of alloy steel (excluding stainless)s stood at $441 per ton in February 2024, shrinking by -3.4% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 18% month-to-month. As a result, import price attained the peak level of $477 per ton. From May 2023 to February 2024, the average import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In February 2024, the country with the highest price was Mexico ($453 per ton), while the price for Canada totaled $432 per ton.
From March 2023 to February 2024, the most notable rate of growth in terms of prices was attained by Mexico (+1.6%).
Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States
In 2022, the amount of ferrous waste and scrap; of alloy steel (excluding stainless)s exported from the United States rose remarkably to 1M tons, with an increase of 14% compared with the previous year. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +7.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. Over the period under review, the exports of attained the maximum in 2022 and are likely to continue growth in the near future.
In value terms, exports of ferrous waste and scrap; of alloy steel (excluding stainless)s reached $416M in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.5% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 58% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.
| Export of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 80.8 | 105 | 112 | 113 | 11.8% |
| Mexico | 5.2 | 37.1 | 84.8 | 80.4 | 149.1% |
| India | 19.8 | 18.9 | 35.2 | 55.6 | 41.1% |
| Canada | 35.7 | 17.3 | 42.4 | 53.2 | 14.2% |
| Thailand | 14.5 | 24.5 | 41.5 | 37.7 | 37.5% |
| Taiwan (Chinese) | 18.3 | 15.6 | 5.3 | 17.3 | -1.9% |
| China | 5.6 | 15.9 | 33.9 | 16.4 | 43.1% |
| Others | 77.9 | 27.3 | 58.8 | 42.6 | -18.2% |
| Total | 258 | 262 | 414 | 416 | 17.3% |
Top Export Markets for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) from the United States in 2022:
- Mexico (393.4K tons)
- Malaysia (221.6K tons)
- Canada (208.5K tons)
- India (64.2K tons)
- Taiwan (Chinese) (58.3K tons)
- Thailand (21.5K tons)
- China (10.7K tons)
Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States
In 2022, the amount of ferrous waste and scrap; of alloy steel (excluding stainless)s imported into the United States shrank to 637K tons, which is down by -8.5% compared with the year before. The total import volume increased at an average annual rate of +5.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 31%. As a result, imports attained the peak of 696K tons, and then shrank in the following year.
In value terms, imports of ferrous waste and scrap; of alloy steel (excluding stainless)s fell to $289M in 2022. Overall, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 129% against the previous year. As a result, imports reached the peak of $318M, and then reduced in the following year.
| Import of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 103 | 96.4 | 229 | 183 | 21.1% |
| Mexico | 44.5 | 40.5 | 84.2 | 102 | 31.8% |
| Cayman Islands | N/A | N/A | 1.4 | 1.9 | 35.7% |
| Others | 1.4 | 2.1 | 3.1 | 2.2 | 16.3% |
| Total | 149 | 139 | 318 | 289 | 24.7% |
Top Suppliers of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) to the United States in 2022:
- Canada (384.4K tons)
- Mexico (235.6K tons)
- Cayman Islands (11.5K tons)
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