U.S.: Market for Remelting Scrap Ingots Of Iron Or Steel 2024

Market Size for Remelting Scrap Ingots Of Iron Or Steel in the U.S.

The U.S. metal remelting scrap ingots market fell rapidly to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption saw a abrupt shrinkage. Metal remelting scrap ingots consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Remelting Scrap Ingots Of Iron Or Steel in the U.S.

In value terms, metal remelting scrap ingots production fell markedly to $X in 2023. Over the period under review, production recorded a abrupt shrinkage. The growth pace was the most rapid in 2022 when the production volume increased by X% against the previous year. Metal remelting scrap ingots production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Remelting Scrap Ingots Of Iron Or Steel

Exports from the U.S.

In 2023, shipments abroad of remelting scrap ingots of iron or steel increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Overall, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, metal remelting scrap ingots exports shrank significantly to $X in 2023. In general, exports, however, faced a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for metal remelting scrap ingots exports from the United States, accounting for a X% share of total exports. Moreover, metal remelting scrap ingots exports to Canada exceeded the volume sent to the second major destination, India (X tons), sevenfold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Malaysia (X% per year).

In value terms, Canada ($X) remains the key foreign market for remelting scrap ingots of iron or steel exports from the United States, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by Pakistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2023, the average metal remelting scrap ingots export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Remelting Scrap Ingots Of Iron Or Steel

Imports into the U.S.

In 2023, imports of remelting scrap ingots of iron or steel into the United States soared to X tons, increasing by X% on 2022. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to see gradual growth in the near future.

In value terms, metal remelting scrap ingots imports soared to $X in 2023. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Sweden (X tons) and Canada (X tons) were the main suppliers of metal remelting scrap ingots imports to the United States, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal remelting scrap ingots suppliers to the United States were Sweden ($X), China ($X) and Canada ($X), together comprising X% of total imports.

Sweden, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal remelting scrap ingots import price stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the import price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Mexico ($X per ton) and Sweden ($X per ton), while the price for China ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform