Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia - 2022

Contents:

1. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia (FOB) - 2022
2. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia (CIF) - 2022
3. Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia
4. Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia (FOB) - 2022

In 2021, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $570 per ton, dropping by -7.8% against the previous year. Overall, the export price continues to indicate a perceptible descent. The growth pace was the most rapid in 2020 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the peak figure at $983 per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Jordan ($619 per ton) and Bahrain ($613 per ton), while the average price for exports to India ($448 per ton) and Djibouti ($596 per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+8.4%), while the prices for the other major destinations experienced a decline.

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia (CIF) - 2022

The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $475 per ton in 2021, picking up by 53% against the previous year. Over the period under review, the import price, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2013 an increase of 124% against the previous year. As a result, import price reached the peak level of $1,397 per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($15,298 per ton), while the price for France ($444 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+48.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia

In 2022, approx. 71K tons of ferrous waste and scrap; remelting scrap ingots of iron or steels were exported from Saudi Arabia; picking up by 72% on the year before. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 5,885%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels skyrocketed to $89M in 2022. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 5,415% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from Saudi Arabia in 2022:

1. Jordan (9.3K tons)
2. India (7.6K tons)
3. Bahrain (3.0K tons)
4. Djibouti (0.5K tons)

Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Saudi Arabia

After two years of growth, overseas purchases of ferrous waste and scrap; remelting scrap ingots of iron or steels decreased by -51.8% to 298K tons in 2021. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 67% against the previous year. As a result, imports attained the peak of 618K tons, and then dropped significantly in the following year.

In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels fell dramatically to $142M in 2021. In general, total imports indicated a prominent expansion from 2019 to 2021: its value increased at an average annual rate of +9.4% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 62% against the previous year. As a result, imports attained the peak of $191M, and then declined notably in the following year.

Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to Saudi Arabia in 2022:

1. United States (256.4K tons)
2. France (38.9K tons)