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

Price for Ferrous Waste and Scrap; of Stainless Steel in Malaysia (FOB) - 2024

In January 2024, the average export price for ferrous waste and scrap; of stainless steels amounted to $593 per ton, with a decrease of -32.6% against the previous month. Over the period under review, the export price, however, continues to indicate a noticeable increase. The most prominent rate of growth was recorded in May 2023 an increase of 94% against the previous month. Over the period under review, the average export prices hit record highs at $1,339 per ton in October 2023; however, from November 2023 to January 2024, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In January 2024, the country with the highest price was Taiwan (Chinese) ($1,201 per ton), while the average price for exports to India ($530 per ton) was amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Ferrous Waste and Scrap; of Stainless Steel in Malaysia (CIF) - 2022

The average import price for ferrous waste and scrap; of stainless steels stood at $1,040 per ton in 2022, which is down by -31.8% against the previous year. In general, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for ferrous waste and scrap; of stainless steels increased by +17.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 73%. As a result, import price reached the peak level of $1,524 per ton, and then fell rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($3,147 per ton), while the price for the Philippines ($422 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

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

Exports of ferrous waste and scrap; of stainless steels from Malaysia dropped to 6.1K tons in 2022, waning by -5.4% compared with the previous year. Over the period under review, exports showed a sharp curtailment.

In value terms, exports of ferrous waste and scrap; of stainless steels shrank notably to $4.8M in 2022. In general, exports faced a precipitous setback.

Export of Ferrous Waste and Scrap; of Stainless Steel in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Taiwan (Chinese)	1.9	0.8	1.4	2.0	1.7%
India	1.3	2.2	1.2	1.4	2.5%
Thailand	N/A	0.7	1.0	0.8	6.9%
South Korea	0.5	0.3	N/A	0.4	-7.2%
China	0.3	0.5	N/A	0.1	-30.7%
Japan	0.5	0.1	N/A	N/A	-80.0%
South Africa	17.0	8.5	2.8	N/A	-59.4%
Others	0.5	0.3	N/A	N/A	-40.0%
Total	22.0	13.4	6.4	4.8	-39.8%

Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from Malaysia in 2022:

India (3.2K tons)
Taiwan (Chinese) (2.0K tons)
Thailand (0.5K tons)
South Korea (0.3K tons)
China (0.1K tons)

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

In 2022, approx. 2.2K tons of ferrous waste and scrap; of stainless steels were imported into Malaysia; with a decrease of -72.9% on the year before. Overall, imports showed a sharp descent. The growth pace was the most rapid in 2021 when imports increased by 89% against the previous year.

In value terms, imports of ferrous waste and scrap; of stainless steels contracted dramatically to $2.3M in 2022. In general, imports continue to indicate a dramatic decline. The pace of growth was the most pronounced in 2021 when imports increased by 227% against the previous year. As a result, imports attained the peak of $13M, and then declined remarkably in the following year.

Import of Ferrous Waste and Scrap; of Stainless Steel in Malaysia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Chile	N/A	N/A	806	468	-41.9%
Pakistan	218	53.2	N/A	428	25.2%
Philippines	N/A	N/A	N/A	410	0%
Taiwan (Chinese)	164	168	314	376	31.9%
United Kingdom	37.7	38.6	590	286	96.5%
United States	1,513	918	4,929	151	-53.6%
China	89.1	418	61.8	131	13.7%
Singapore	334	372	309	22.9	-59.1%
Japan	899	152	1,311	17.3	-73.2%
South Korea	1,411	48.1	698	N/A	-29.7%
India	456	86.1	50.8	N/A	-66.6%
Indonesia	566	144	672	N/A	9.0%
Australia	1,554	567	153	N/A	-68.6%
Others	2,416	892	2,712	44.3	-73.6%
Total	9,659	3,857	12,607	2,334	-37.7%