Price for Ferrous Waste and Scrap; of Stainless Steel in China - 2024

Price for Ferrous Waste and Scrap; of Stainless Steel in China (CIF) - 2024

The average import price for ferrous waste and scrap; of stainless steels stood at $1,273 per ton in December 2023, dropping by -6.8% against the previous month. In general, the import price showed a mild curtailment. The pace of growth was the most pronounced in June 2023 when the average import price increased by 15% m-o-m. Over the period under review, average import prices hit record highs at $1,541 per ton in March 2023; however, from April 2023 to December 2023, import prices stood at a somewhat 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 ($1,725 per ton), while the price for Japan ($1,123 per ton) was amongst the lowest.

From February 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Mexico (+0.9%), while the prices for the other major suppliers experienced a decline.

Price for Ferrous Waste and Scrap; of Stainless Steel in China (FOB) - 2022

The average export price for ferrous waste and scrap; of stainless steels stood at $752 per ton in 2022, dropping by -99.7% against the previous year. In general, the export price recorded a noticeable descent. The growth pace was the most rapid in 2019 when the average export price increased by 66%. Over the period under review, the average export prices attained the peak figure at $299,000 per ton in 2021, and then dropped dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($3,000 per ton), while the average price for exports to India totaled $752 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ferrous Waste and Scrap; of Stainless Steel in China

Imports of ferrous waste and scrap; of stainless steels into China soared to 139K tons in 2022, rising by 162% compared with the previous year. In general, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of ferrous waste and scrap; of stainless steels surged to $159M in 2022. Over the period under review, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Ferrous Waste and Scrap; of Stainless Steel in China (Million USD)
COUNTRY	2021	2022	CAGR, 2021-2022
Japan	30.7	108	251.8%
South Korea	0.9	12.5	1288.9%
Thailand	0.3	10.6	3433.3%
Malaysia	9.1	9.5	4.4%
Taiwan (Chinese)	2.5	5.2	108.0%
Vietnam	0.1	3.6	3500.0%
Others	1.3	9.9	661.5%
Total	44.9	159	254.1%

Top Suppliers of Ferrous Waste and Scrap; of Stainless Steel to China in 2022:

Japan (99.3K tons)
South Korea (11.3K tons)
Malaysia (8.2K tons)
Thailand (6.8K tons)
Taiwan (Chinese) (3.4K tons)
Vietnam (3.1K tons)

Exports of Ferrous Waste and Scrap; of Stainless Steel in China

In 2022, the amount of ferrous waste and scrap; of stainless steels exported from China soared to 110 tons, jumping by 5,476,150% against the year before. Over the period under review, exports, however, saw a precipitous decline.

In value terms, exports of ferrous waste and scrap; of stainless steels soared to $82K in 2022. Overall, exports, however, showed a precipitous decrease.

Export of Ferrous Waste and Scrap; of Stainless Steel in China (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	N/A	N/A	N/A	82.1	0%
South Korea	14.8	N/A	N/A	N/A	0%
Japan	266	N/A	N/A	N/A	0%
United Kingdom	151	N/A	N/A	N/A	0%
Singapore	92.7	N/A	N/A	N/A	0%
Others	2.2	N/A	0.6	0.3	-48.5%
Total	527	N/A	0.6	82.4	-46.1%