Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates - 2022
Contents:
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates (FOB) - 2022
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates (CIF) - 2022
- Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates
- Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates (FOB) - 2022
The average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $746 per ton in 2022, jumping by 31% against the previous year. Overall, the export price showed a noticeable expansion. The growth pace was the most rapid in 2019 when the average export price increased by 66% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($812 per ton), while the average price for exports to Oman ($410 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates (CIF) - 2022
In 2022, the average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $508 per ton, rising by 4.2% against the previous year. In general, the import price continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2013 when the average import price increased by 54% against the previous year. The import price peaked at $580 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($608 per ton), while the price for Australia ($294 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.1%), 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 the United Arab Emirates
In 2022, after three years of growth, there was significant decline in shipments abroad of ferrous waste and scrap; remelting scrap ingots of iron or steels, when their volume decreased by -37.3% to 1.2M tons. Overall, exports saw a noticeable setback. The growth pace was the most rapid in 2021 when exports increased by 25% against the previous year. As a result, the exports reached the peak of 2M tons, and then fell rapidly in the following year.
In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels contracted markedly to $932M in 2022. In general, total exports indicated tangible growth from 2019 to 2022: its value increased at an average annual rate of +4.5% 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 +51.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 84%. As a result, the exports attained the peak of $1.1B, and then fell notably in the following year.
| Export of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 517 | 339 | 725 | 718 | 11.6% |
| Pakistan | 251 | 257 | 371 | 176 | -11.2% |
| Bangladesh | N/A | N/A | N/A | 31.6 | 0% |
| Oman | 33.1 | 7.7 | 24.5 | N/A | -14.0% |
| Others | 17.6 | 12.0 | 11.7 | 6.9 | -26.8% |
| Total | 818 | 615 | 1,132 | 932 | 4.4% |
Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from the United Arab Emirates in 2022:
- India (883.9K tons)
- Pakistan (298.5K tons)
- Bangladesh (58.5K tons)
Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates
In 2022, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels into the United Arab Emirates contracted markedly to 57K tons, with a decrease of -67.3% compared with 2021 figures. In general, imports continue to indicate a dramatic decline. The smallest decline of -0.2% was in 2020.
In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels shrank sharply to $29M in 2022. Overall, imports saw a dramatic setback. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. As a result, imports reached the peak of $85M, and then dropped notably in the following year.
| Import of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United Arab Emirates (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tanzania | 0.1 | N/A | 0.1 | 6.7 | 306.2% |
| China | N/A | N/A | N/A | 4.7 | 0% |
| United States | 9.4 | 5.6 | 7.7 | 3.4 | -28.8% |
| Germany | 0.1 | N/A | N/A | 2.3 | 184.4% |
| United Kingdom | 5.4 | 7.5 | 0.7 | 1.3 | -37.8% |
| Spain | 0.1 | 0.1 | 0.5 | 1.1 | 122.4% |
| Canada | 2.0 | 0.4 | 0.6 | 0.9 | -23.4% |
| Qatar | N/A | N/A | 0.6 | 0.5 | -16.7% |
| South Africa | 0.9 | 0.3 | 0.4 | 0.5 | -17.8% |
| Italy | 0.2 | 0.1 | N/A | 0.4 | 26.0% |
| Australia | 2.0 | 0.6 | 0.8 | 0.3 | -46.9% |
| South Korea | 1.5 | 0.2 | 1.1 | 0.3 | -41.5% |
| New Zealand | 11.1 | 9.6 | 8.6 | N/A | -12.0% |
| Others | 38.7 | 36.6 | 63.5 | 6.7 | -44.3% |
| Total | 71.4 | 61.1 | 84.7 | 28.9 | -26.0% |
Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to the United Arab Emirates in 2022:
- Tanzania (14.4K tons)
- China (8.3K tons)
- United States (7.3K tons)
- Germany (4.3K tons)
- United Kingdom (2.4K tons)
- Spain (2.4K tons)
- South Africa (1.7K tons)
- Qatar (1.5K tons)
- Canada (1.4K tons)
- South Korea (1.0K tons)
- Australia (0.9K tons)
- Italy (0.9K tons)
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in the United Arab Emirates.
710
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
469
This report provides an in-depth analysis of the market for metal remelting scrap ingots in the United Arab Emirates.
710
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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