Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada - 2023
Contents:
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada (FOB) - 2023
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada (CIF) - 2023
- Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada
- Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada (FOB) - 2023
In June 2023, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $447 per ton, shrinking by -6.4% against the previous month. Over the period from December 2022 to June 2023, it increased at an average monthly rate of +2.0%. The pace of growth appeared the most rapid in April 2023 when the average export price increased by 6.3% month-to-month. As a result, the export price reached the peak level of $479 per ton. From May 2023 to June 2023, the the average export prices remained at a somewhat lower figure.
Average prices varied somewhat for the major foreign markets. In June 2023, the highest price was recorded for prices to India ($494 per ton) and the United States ($453 per ton), while the average price for exports to Taiwan (Chinese) ($365 per ton) and Peru ($401 per ton) were amongst the lowest.
From December 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada (CIF) - 2023
The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $390 per ton in June 2023, shrinking by -3.4% against the previous month. Over the last six-month period, it increased at an average monthly rate of +4.3%. The most prominent rate of growth was recorded in January 2023 an increase of 18% m-o-m. Over the period under review, average import prices reached the peak figure at $403 per ton in May 2023, and then fell slightly in the following month.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From December 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to +3.8% per month.
Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada
In 2022, overseas shipments of ferrous waste and scrap; remelting scrap ingots of iron or steels decreased by -4.3% to 4.6M tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 9.2%.
In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $2.4B in 2022. Overall, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +19.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 895 | 910 | 1,755 | 1,749 | 25.0% |
| India | 70.6 | 69.1 | 107 | 208 | 43.4% |
| Turkey | 131 | 146 | 156 | 176 | 10.3% |
| Mexico | 10.0 | 31.6 | 33.0 | 33.3 | 49.3% |
| Taiwan (Chinese) | 48.0 | 40.2 | 55.7 | 30.3 | -14.2% |
| Egypt | 54.8 | 74.6 | N/A | N/A | 36.1% |
| Others | 166 | 181 | 234 | 155 | -2.3% |
| Total | 1,375 | 1,452 | 2,341 | 2,352 | 19.6% |
Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from Canada in 2022:
- United States (3508.1K tons)
- Turkey (365.4K tons)
- India (336.1K tons)
- Taiwan (Chinese) (77.1K tons)
- Mexico (76.0K tons)
Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada
In 2022, the amount of ferrous waste and scrap; remelting scrap ingots of iron or steels imported into Canada shrank sharply to 1.1M tons, reducing by -34.2% compared with the year before. Overall, imports recorded a significant decline. The most prominent rate of growth was recorded in 2021 when imports increased by 45% against the previous year.
In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels rose markedly to $287M in 2022. In general, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 110% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 171 | 124 | 261 | 286 | 18.7% |
| Others | 1.4 | 0.4 | 0.5 | 1.1 | -7.7% |
| Total | 172 | 125 | 261 | 287 | 18.6% |
Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to Canada in 2022:
- United States (1128.0K tons)
375
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Canada.
740
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
375
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Canada.
740
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
Nothing found. Please try again.
