Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United States - 2023

Contents:

1. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United States (FOB) - 2022
2. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United States (CIF) - 2023
3. Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United States
4. Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United States

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United States (FOB) - 2022

In 2022, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $435 per ton, surging by 2% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 48% against the previous year. Over the period under review, the average export prices attained the peak figure at $439 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($844 per ton), while the average price for exports to Mexico ($316 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 Thailand (+7.8%), 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 States (CIF) - 2023

The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $416 per ton in September 2023, leveling off at the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 7.9% against the previous month. As a result, import price reached the peak level of $490 per ton. From May 2023 to September 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Sweden ($3,170 per ton), while the price for Canada ($404 per ton) was amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Sweden (+25.9%), 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 States

In 2022, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels from the United States reduced to 18M tons, flattening at 2021. The total export volume increased at an average annual rate of +1.4% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 7.7%. As a result, the exports reached the peak of 18M tons, and then fell modestly in the following year.

In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $7.7B in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +12.9% 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 +60.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 59% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from the United States in 2022:

1. Mexico (3.6M tons)
2. Turkey (3.4M tons)
3. India (1.9M tons)
4. Bangladesh (1.7M tons)
5. Taiwan (Chinese) (1.3M tons)
6. Canada (0.9M tons)
7. Vietnam (0.9M tons)
8. Peru (0.7M tons)
9. Malaysia (0.6M tons)
10. Pakistan (0.5M tons)
11. South Korea (0.5M tons)
12. Egypt (0.4M tons)
13. Thailand (0.4M tons)

Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the United States

After three years of growth, purchases abroad of ferrous waste and scrap; remelting scrap ingots of iron or steels decreased by -10.3% to 4.7M tons in 2022. The total import volume increased at an average annual rate of +3.6% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 17% against the previous year. As a result, imports attained the peak of 5.3M tons, and then fell in the following year.

In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels fell modestly to $2.5B in 2022. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 91%. As a result, imports reached the peak of $2.5B, and then contracted in the following year.

Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to the United States in 2022:

1. Canada (3506.0K tons)
2. Mexico (627.5K tons)
3. Sweden (174.7K tons)
4. Netherlands (169.2K tons)
5. United Kingdom (115.6K tons)