Price for Ferrous Waste and Scrap; of Stainless Steel in Sri Lanka - 2022

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

In 2022, the average export price for ferrous waste and scrap; of stainless steels amounted to $460 per ton, with a decrease of -15.6% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The growth pace was the most rapid in 2014 when the average export price increased by 10% against the previous year. The export price peaked at $1,572 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($466 per ton), while the average price for exports to South Korea stood at $73 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+87.3%), while the prices for the other major destinations experienced a decline.

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

In 2022, the average import price for ferrous waste and scrap; of stainless steels amounted to $2,207 per ton, increasing by 62% against the previous year. In general, the import price, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2018 an increase of 275%. As a result, import price reached the peak level of $4,692 per ton. From 2019 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to +57.0% per year.

Exports of Ferrous Waste and Scrap; of Stainless Steel in Sri Lanka

In 2022, shipments abroad of ferrous waste and scrap; of stainless steels increased by 107% to 423 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a sharp reduction.

In value terms, exports of ferrous waste and scrap; of stainless steels soared to $194K in 2022. Overall, exports, however, showed a dramatic setback.

Export of Ferrous Waste and Scrap; of Stainless Steel in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	1,171	344	112	194	-45.1%
South Korea	N/A	N/A	N/A	0.5	0%
Malaysia	161	6.4	N/A	N/A	-96.0%
United Arab Emirates	21.3	N/A	N/A	N/A	0%
Others	N/A	0.4	N/A	N/A	0%
Total	1,354	351	112	194	-47.7%

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

India (416.3 tons)
South Korea (6.4 tons)

Imports of Ferrous Waste and Scrap; of Stainless Steel in Sri Lanka

In 2022, supplies from abroad of ferrous waste and scrap; of stainless steels decreased by -93.7% to 20 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports faced a sharp downturn. The pace of growth was the most pronounced in 2020 when imports increased by 271%.

In value terms, imports of ferrous waste and scrap; of stainless steels dropped notably to $44K in 2022. In general, imports continue to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 124%.