Price for Ferrous Waste and Scrap; of Stainless Steel in Myanmar - 2023

Price for Ferrous Waste and Scrap; of Stainless Steel in Myanmar (FOB) - 2023

The average export price for ferrous waste and scrap; of stainless steels stood at $897 per ton in December 2023, jumping by 23% against the previous month. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in September 2023 when the average export price increased by 33% against the previous month. As a result, the export price reached the peak level of $1,092 per ton. From October 2023 to December 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Thailand ($1,282 per ton), while the average price for exports to India stood at $830 per ton.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

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

The average import price for ferrous waste and scrap; of stainless steels stood at $1,708 per ton in 2022, growing by 45% against the previous year. In general, the import price enjoyed buoyant growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by 188% against the previous year. As a result, import price attained the peak level of $2,304 per ton. From 2016 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Taiwan (Chinese).

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to +45.9% per year.

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

In 2022, approx. 3.9K tons of ferrous waste and scrap; of stainless steels were exported from Myanmar; rising by 16% compared with the previous year. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +12.0% 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 +47.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of ferrous waste and scrap; of stainless steels soared to $3.5M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +19.1% 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 +84.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 46%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Export of Ferrous Waste and Scrap; of Stainless Steel in Myanmar (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	868	1,043	2,067	3,120	53.2%
China	N/A	N/A	N/A	207	0%
Malaysia	1,049	746	598	135	-49.5%
Vietnam	86.4	N/A	N/A	N/A	0%
Others	44.6	88.0	84.7	2.6	-61.2%
Total	2,048	1,877	2,750	3,464	19.1%

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

India (3498.2 tons)
China (201.4 tons)
Malaysia (162.0 tons)

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

In 2022, imports of ferrous waste and scrap; of stainless steels into Myanmar soared to 38 tons, with an increase of 17,050% against the year before. Over the period under review, imports continue to indicate a significant expansion.

In value terms, imports of ferrous waste and scrap; of stainless steels soared to $66K in 2022. Overall, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.