Price for Ferrous Waste and Scrap; of Cast Iron in the United States - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Cast Iron in the United States (FOB) - 2022
- Price for Ferrous Waste and Scrap; of Cast Iron in the United States (CIF) - 2023
- Exports of Ferrous Waste and Scrap; of Cast Iron in the United States
- Imports of Ferrous Waste and Scrap; of Cast Iron in the United States
Price for Ferrous Waste and Scrap; of Cast Iron in the United States (FOB) - 2022
In 2022, the average export price for ferrous waste and scrap; of cast ira amounted to $355 per ton, jumping by 30% against the previous year. In general, the export price, however, continues to indicate a mild curtailment. The export price peaked at $480 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($801 per ton), while the average price for exports to Malaysia ($206 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 Thailand (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Ferrous Waste and Scrap; of Cast Iron in the United States (CIF) - 2023
In December 2023, the average import price for ferrous waste and scrap; of cast ira amounted to $348 per ton, growing by 9.2% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +2.3%. The most prominent rate of growth was recorded in January 2023 an increase of 57% month-to-month. As a result, import price reached the peak level of $416 per ton. From February 2023 to December 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Mexico ($1,063 per ton), while the price for Canada amounted to $330 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Mexico (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; of Cast Iron in the United States
Exports of ferrous waste and scrap; of cast ira from the United States shrank significantly to 1.1M tons in 2022, declining by -35.7% on the year before. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 17%. As a result, the exports reached the peak of 1.8M tons, and then fell rapidly in the following year.
In value terms, exports of ferrous waste and scrap; of cast ira fell dramatically to $408M in 2022. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2021 with an increase of 5%.
| Export of Ferrous Waste and Scrap; of Cast Iron in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 150 | 53.7 | 34.7 | 92.0 | -15.0% |
| Malaysia | 170 | 160 | 232 | 56.5 | -30.7% |
| Thailand | 12.7 | 18.0 | 53.7 | 49.2 | 57.1% |
| Pakistan | 92.5 | 42.9 | 37.5 | 48.3 | -19.5% |
| China | 23.3 | 15.1 | 9.3 | 40.3 | 20.0% |
| South Korea | 28.1 | 17.5 | 7.9 | 20.5 | -10.0% |
| Canada | 8.7 | 9.0 | 13.6 | 15.4 | 21.0% |
| Taiwan (Chinese) | 65.6 | 78.8 | 39.5 | 14.4 | -39.7% |
| Indonesia | 26.9 | 9.5 | 0.4 | 8.4 | -32.2% |
| Vietnam | 27.6 | 11.9 | 6.5 | 2.4 | -55.7% |
| Others | 86.6 | 49.1 | 54.0 | 60.4 | -11.3% |
| Total | 692 | 466 | 489 | 408 | -16.1% |
Top Export Markets for Ferrous Waste and Scrap; of Cast Iron from the United States in 2022:
- India (341.4K tons)
- Malaysia (274.7K tons)
- China (120.6K tons)
- Pakistan (80.2K tons)
- Canada (70.2K tons)
- Thailand (61.4K tons)
- South Korea (42.5K tons)
- Taiwan (Chinese) (36.8K tons)
- Indonesia (16.9K tons)
- Vietnam (6.6K tons)
Imports of Ferrous Waste and Scrap; of Cast Iron in the United States
In 2022, approx. 296K tons of ferrous waste and scrap; of cast ira were imported into the United States; increasing by 46% against the year before. In general, imports posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 60%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of ferrous waste and scrap; of cast ira surged to $90M in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 121%. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in the near future.
| Import of Ferrous Waste and Scrap; of Cast Iron in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 25.8 | 22.1 | 47.3 | 56.6 | 29.9% |
| China | N/A | N/A | N/A | 20.3 | 0% |
| United Kingdom | N/A | N/A | N/A | 12.4 | 0% |
| Mexico | 1.6 | 2.6 | 2.4 | 0.8 | -20.6% |
| New Zealand | N/A | 5.1 | 16.9 | N/A | 231.4% |
| Others | 1.3 | 0.4 | 0.1 | 0.3 | -38.7% |
| Total | 28.7 | 30.2 | 66.8 | 90.4 | 46.6% |
Top Suppliers of Ferrous Waste and Scrap; of Cast Iron to the United States in 2022:
- Canada (186.9K tons)
- China (90.1K tons)
- United Kingdom (15.1K tons)
- Mexico (3.4K tons)
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