Price for Ferrous Waste and Scrap; of Stainless Steel in Japan - 2023

Price for Ferrous Waste and Scrap; of Stainless Steel in Japan (FOB) - 2023

In November 2023, the average export price for ferrous waste and scrap; of stainless steels amounted to $1,113 per ton, waning by -13.2% against the previous month. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 24% against the previous month. As a result, the export price reached the peak level of $1,519 per ton. From March 2023 to November 2023, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($1,396 per ton), while the average price for exports to Thailand ($505 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Ferrous Waste and Scrap; of Stainless Steel in Japan (CIF) - 2023

The average import price for ferrous waste and scrap; of stainless steels stood at $2,028 per ton in November 2023, shrinking by -6.5% against the previous month. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2023 when the average import price increased by 18% against the previous month. Over the period under review, average import prices attained the peak figure at $3,209 per ton in April 2023; however, from May 2023 to November 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Morocco ($6,027 per ton), while the price for Singapore ($473 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

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

After three years of growth, overseas shipments of ferrous waste and scrap; of stainless steels decreased by -15.1% to 235K tons in 2022. Over the period under review, exports showed a mild descent. The pace of growth was the most pronounced in 2020 when exports increased by 9.2% against the previous year.

In value terms, exports of ferrous waste and scrap; of stainless steels contracted sharply to $323M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +9.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 48%. As a result, the exports reached the peak of $382M, and then declined remarkably in the following year.

Export of Ferrous Waste and Scrap; of Stainless Steel in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	118	119	184	147	7.6%
China	0.7	0.6	17.4	77.7	380.6%
Taiwan (Chinese)	59.7	72.4	97.7	33.8	-17.3%
Indonesia	30.2	25.7	25.2	24.9	-6.2%
India	21.9	23.9	33.7	18.1	-6.2%
Thailand	8.7	10.4	14.4	14.6	18.8%
Malaysia	2.5	2.5	5.4	2.1	-5.6%
Others	3.1	3.6	4.8	3.9	8.0%
Total	245	258	382	323	9.7%

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

South Korea (74.5K tons)
China (67.0K tons)
Taiwan (Chinese) (29.9K tons)
Thailand (23.8K tons)
Indonesia (19.5K tons)
India (15.9K tons)
Malaysia (2.3K tons)

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

In 2022, imports of ferrous waste and scrap; of stainless steels into Japan rose significantly to 61K tons, surging by 13% on 2021 figures. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +8.1% 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 +73.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 54% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of ferrous waste and scrap; of stainless steels surged to $155M in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 117%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Import of Ferrous Waste and Scrap; of Stainless Steel in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	38.1	26.3	62.1	72.0	23.6%
Taiwan (Chinese)	17.5	6.9	25.6	42.3	34.2%
United States	16.2	12.0	13.4	16.4	0.4%
Indonesia	3.5	2.9	4.9	5.1	13.4%
Thailand	2.6	2.6	4.0	3.4	9.4%
Hong Kong SAR	N/A	N/A	1.9	3.3	73.7%
Singapore	1.5	0.7	2.7	3.1	27.4%
Others	4.3	3.3	4.1	9.2	28.9%
Total	83.6	54.7	119	155	22.8%