Price for Ferrous Waste and Scrap; of Stainless Steel in Canada - 2024

Price for Ferrous Waste and Scrap; of Stainless Steel in Canada (FOB) - 2024

The average export price for ferrous waste and scrap; of stainless steels stood at $1,396 per ton in January 2024, standing approximately at the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2023 when the average export price increased by 27% against the previous month. Over the period under review, the average export prices reached the maximum at $1,959 per ton in July 2023; however, from August 2023 to January 2024, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was India ($1,560 per ton), while the average price for exports to Pakistan ($410 per ton) was amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to India (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Ferrous Waste and Scrap; of Stainless Steel in Canada (CIF) - 2024

The average import price for ferrous waste and scrap; of stainless steels stood at $1,099 per ton in January 2024, dropping by -26.6% against the previous month. In general, the import price recorded a perceptible setback. The most prominent rate of growth was recorded in September 2023 an increase of 19% against the previous month. The import price peaked at $1,498 per ton in December 2023, and then reduced dramatically in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($1,125 per ton), while the price for Sweden ($145 per ton) was amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Turkey (0.0%), while the prices for the other major suppliers experienced a decline.

Exports of Ferrous Waste and Scrap; of Stainless Steel in Canada

In 2022, after three years of growth, there was significant decline in shipments abroad of ferrous waste and scrap; of stainless steels, when their volume decreased by -10.6% to 157K tons. The total export volume increased at an average annual rate of +2.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 16%. As a result, the exports reached the peak of 176K tons, and then reduced in the following year.

In value terms, exports of ferrous waste and scrap; of stainless steels reached $306M in 2022. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 68%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in the near future.

Export of Ferrous Waste and Scrap; of Stainless Steel in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	119	126	230	223	23.3%
India	23.1	17.6	38.6	59.6	37.2%
Germany	3.2	5.5	8.5	8.4	37.9%
China	14.2	6.3	N/A	2.3	-45.5%
Others	14.9	15.1	9.3	13.3	-3.7%
Total	175	171	287	306	20.5%

Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from Canada in 2022:

United States (116.0K tons)
India (27.4K tons)
Germany (4.8K tons)
China (1.2K tons)

Imports of Ferrous Waste and Scrap; of Stainless Steel in Canada

After three years of growth, purchases abroad of ferrous waste and scrap; of stainless steels decreased by -44.9% to 53K tons in 2022. In general, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. As a result, imports reached the peak of 97K tons, and then reduced sharply in the following year.

In value terms, imports of ferrous waste and scrap; of stainless steels rose to $44M in 2022. Over the period under review, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 94%. Imports peaked in 2022 and are likely to see gradual growth in the near future.