Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore - 2022
Contents:
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore (FOB) - 2022
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore (CIF) - 2022
- Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore
- Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore (FOB) - 2022
In September 2022, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $807 per ton, declining by -17.5% against the previous month. Over the period under review, the export price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in February 2022 an increase of 54% month-to-month. As a result, the export price reached the peak level of $2,194 per ton. From March 2022 to September 2022, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Pakistan ($983 per ton), while the average price for exports to Vietnam ($524 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+0.6%), 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 Singapore (CIF) - 2022
In September 2022, the average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $675 per ton, with a decrease of -7.3% against the previous month. Over the period under review, the import price saw a slight reduction. The pace of growth appeared the most rapid in May 2022 an increase of 18% month-to-month. Over the period under review, average import prices reached the maximum at $741 per ton in January 2022; however, from February 2022 to September 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($2,594 per ton), while the price for Timor-Leste ($222 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Australia (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore
In 2022, approx. 733K tons of ferrous waste and scrap; remelting scrap ingots of iron or steels were exported from Singapore; flattening at 2021. Overall, exports, however, recorded a mild contraction. The pace of growth appeared the most rapid in 2021 with an increase of 39%.
In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $593M in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2021 when exports increased by 117% 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 near future.
| Export of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 83.8 | 61.4 | 82.1 | 122 | 13.3% |
| Vietnam | 41.6 | 16.2 | 65.2 | 113 | 39.5% |
| Indonesia | 65.0 | 48.2 | 105 | 103 | 16.6% |
| Malaysia | 37.3 | 27.0 | 83.9 | 53.4 | 12.7% |
| Bangladesh | 22.6 | 7.7 | 37.4 | 12.0 | -19.0% |
| Thailand | 12.6 | 16.5 | 15.4 | 11.5 | -3.0% |
| Pakistan | 10.7 | 10.8 | 9.4 | 9.3 | -4.6% |
| Others | 68.1 | 64.9 | 150 | 169 | 35.4% |
| Total | 342 | 253 | 549 | 593 | 20.1% |
Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from Singapore in 2022:
- Vietnam (224.5K tons)
- Indonesia (178.5K tons)
- India (145.8K tons)
- Malaysia (97.2K tons)
- Bangladesh (24.1K tons)
- Thailand (19.7K tons)
- Pakistan (12.2K tons)
Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore
For the fourth year in a row, Singapore recorded growth in supplies from abroad of ferrous waste and scrap; remelting scrap ingots of iron or steels, which increased by 36% to 162K tons in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +21.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.2% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels skyrocketed to $83M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +16.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 52% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 14.6 | 18.6 | 33.7 | 27.3 | 23.2% |
| Indonesia | 9.4 | 9.6 | 16.3 | 10.6 | 4.1% |
| Australia | 1.8 | 0.3 | 0.2 | 6.3 | 51.8% |
| Philippines | 0.8 | 1.4 | 2.4 | 6.3 | 99.0% |
| United States | 5.0 | 4.2 | 0.6 | 4.7 | -2.0% |
| Brunei Darussalam | 4.2 | 0.6 | 0.5 | 3.5 | -5.9% |
| Papua New Guinea | 1.4 | 0.6 | 2.3 | 2.8 | 26.0% |
| New Zealand | 0.7 | 0.3 | 0.8 | 2.2 | 46.5% |
| Cuba | N/A | N/A | 1.0 | 1.6 | 60.0% |
| France | 0.2 | N/A | 0.3 | 1.6 | 100.0% |
| Netherlands | N/A | 0.1 | N/A | 1.5 | 287.3% |
| Timor-Leste | 1.3 | 0.7 | 0.4 | 1.0 | -8.4% |
| Myanmar | 3.1 | 2.4 | 0.2 | N/A | -74.6% |
| Others | 9.8 | 4.4 | 6.5 | 13.7 | 11.8% |
| Total | 52.3 | 43.1 | 65.3 | 83.2 | 16.7% |
Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to Singapore in 2022:
- Malaysia (76.9K tons)
- Papua New Guinea (12.6K tons)
- Philippines (12.4K tons)
- Brunei Darussalam (9.1K tons)
- Australia (7.5K tons)
- Indonesia (7.3K tons)
- Timor-Leste (5.0K tons)
- New Zealand (4.8K tons)
- Cuba (3.5K tons)
- France (3.0K tons)
- Netherlands (3.0K tons)
- United States (2.8K tons)
395
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Singapore.
721
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
395
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Singapore.
721
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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