Price for Ferrous Waste and Scrap; of Cast Iron in Canada - 2024

Price for Ferrous Waste and Scrap; of Cast Iron in Canada (FOB) - 2022

In 2022, the average export price for ferrous waste and scrap; of cast ira amounted to $313 per ton, declining by -7.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 36%. Over the period under review, the average export prices attained the peak figure at $339 per ton in 2021, and then declined in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($358 per ton) and Malaysia ($314 per ton), while the average price for exports to the United States ($307 per ton) and the Philippines ($313 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.2%), while the prices for the other major destinations experienced a decline.

Price for Ferrous Waste and Scrap; of Cast Iron in Canada (CIF) - 2024

The average import price for ferrous waste and scrap; of cast ira stood at $247 per ton in December 2023, growing by 4.9% against the previous month. Over the period under review, the import price, however, saw a mild descent. The pace of growth was the most pronounced in May 2023 when the average import price increased by 21% m-o-m. As a result, import price attained the peak level of $315 per ton. From June 2023 to December 2023, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From January 2023 to December 2023, the rate of growth in terms of prices for the United States amounted to -1.4% per month.

Exports of Ferrous Waste and Scrap; of Cast Iron in Canada

In 2022, approx. 232K tons of ferrous waste and scrap; of cast ira were exported from Canada; with a decrease of -6.9% compared with 2021. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +7.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52%. As a result, the exports reached the peak of 249K tons, and then reduced in the following year.

In value terms, exports of ferrous waste and scrap; of cast ira declined to $73M in 2022. Overall, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by 95%. As a result, the exports attained the peak of $84M, and then reduced in the following year.

Export of Ferrous Waste and Scrap; of Cast Iron in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	25.8	22.7	48.6	57.4	30.5%
India	7.7	5.3	10.1	9.4	6.9%
Malaysia	6.5	10.1	20.5	3.1	-21.9%
Philippines	N/A	0.5	1.0	1.2	54.9%
Others	9.6	4.8	4.3	1.6	-45.0%
Total	49.6	43.3	84.4	72.6	13.5%

Top Export Markets for Ferrous Waste and Scrap; of Cast Iron from Canada in 2022:

United States (186.8K tons)
India (26.2K tons)
Malaysia (10.0K tons)
Philippines (3.8K tons)

Imports of Ferrous Waste and Scrap; of Cast Iron in Canada

Imports of ferrous waste and scrap; of cast ira into Canada expanded remarkably to 103K tons in 2022, with an increase of 13% compared with 2021 figures. Over the period under review, imports showed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 55% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of ferrous waste and scrap; of cast ira expanded markedly to $15M in 2022. In general, imports showed a significant increase. The growth pace was the most rapid in 2021 when imports increased by 51%. Imports peaked in 2022 and are expected to retain growth in the immediate term.