Price for Ferrous Waste and Scrap; of Cast Iron in India - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Cast Iron in India (CIF) - 2023
- Price for Ferrous Waste and Scrap; of Cast Iron in India (FOB) - 2023
- Imports of Ferrous Waste and Scrap; of Cast Iron in India
- Exports of Ferrous Waste and Scrap; of Cast Iron in India
Price for Ferrous Waste and Scrap; of Cast Iron in India (CIF) - 2023
The average import price for ferrous waste and scrap; of cast ira stood at $447 per ton in October 2023, leveling off at the previous month. In general, the import price saw a slight decline. The most prominent rate of growth was recorded in July 2023 an increase of 6.9% m-o-m. Over the period under review, average import prices attained the peak figure at $538 per ton in November 2022; however, from December 2022 to October 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the UK ($484 per ton), while the price for Poland ($276 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+1.0%), while the prices for the other major suppliers experienced a decline.
Price for Ferrous Waste and Scrap; of Cast Iron in India (FOB) - 2023
The average export price for ferrous waste and scrap; of cast ira stood at $480 per ton in October 2023, rising by 9.2% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 an increase of 30% against the previous month. Over the period under review, the average export prices hit record highs at $504 per ton in May 2023; however, from June 2023 to October 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Bhutan ($469 per ton), while the average price for exports to Singapore stood at $197 per ton.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+1.9%).
Imports of Ferrous Waste and Scrap; of Cast Iron in India
In 2022, imports of ferrous waste and scrap; of cast ira into India soared to 158K tons, jumping by 17% against 2021. The total import volume increased at an average annual rate of +10.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 24% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, imports of ferrous waste and scrap; of cast ira soared to $83M in 2022. In general, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Ferrous Waste and Scrap; of Cast Iron in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 11.3 | 13.9 | 13.4 | 15.3 | 10.6% |
| South Africa | 1.1 | 1.2 | 3.9 | 13.4 | 130.1% |
| United Kingdom | 7.1 | 7.7 | 8.0 | 11.6 | 17.8% |
| Canada | 2.9 | 5.4 | 8.1 | 10.6 | 54.0% |
| United Arab Emirates | 1.8 | 1.9 | 2.3 | 4.0 | 30.5% |
| Senegal | 1.5 | 1.9 | 3.1 | 3.5 | 32.6% |
| Singapore | 0.6 | 0.6 | 2.5 | 3.4 | 78.3% |
| Democratic Republic of the Congo | 0.2 | 0.3 | 1.0 | 2.7 | 138.1% |
| Mozambique | 1.2 | 1.3 | 3.1 | 2.2 | 22.4% |
| Australia | 0.9 | 1.1 | 2.3 | 2.1 | 32.6% |
| Poland | 0.1 | 0.1 | 0.4 | 1.7 | 157.1% |
| Tanzania | 2.0 | 0.9 | 1.4 | 1.4 | -11.2% |
| Others | 11.7 | 11.1 | 11.0 | 11.6 | -0.3% |
| Total | 42.4 | 47.4 | 60.6 | 83.4 | 25.3% |
Top Suppliers of Ferrous Waste and Scrap; of Cast Iron to India in 2022:
- South Africa (28.1K tons)
- United States (27.4K tons)
- United Kingdom (20.5K tons)
- Canada (18.8K tons)
- United Arab Emirates (7.3K tons)
- Senegal (7.2K tons)
- Singapore (6.4K tons)
- Democratic Republic of the Congo (5.6K tons)
- Poland (5.0K tons)
- Mozambique (4.5K tons)
- Tanzania (3.0K tons)
- Australia (2.6K tons)
Exports of Ferrous Waste and Scrap; of Cast Iron in India
In 2022, overseas shipments of ferrous waste and scrap; of cast ira decreased by -27.5% to 2.6K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 48% against the previous year. As a result, the exports reached the peak of 5.2K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of ferrous waste and scrap; of cast ira reduced markedly to $1.2M in 2022. Overall, total exports indicated perceptible growth from 2019 to 2022: its value increased at an average annual rate of +4.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -27.7% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 59% against the previous year. As a result, the exports attained the peak of $1.7M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Ferrous Waste and Scrap; of Cast Iron in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bhutan | 852 | 1,522 | 1,442 | 1,161 | 10.9% |
| Singapore | 9.1 | 82.0 | 18.1 | 24.1 | 38.4% |
| South Korea | 58.5 | N/A | N/A | N/A | 0% |
| United States | 108 | 37.7 | N/A | N/A | -65.1% |
| Others | 35.8 | 47.0 | 43.1 | 35.4 | -0.4% |
| Total | 1,064 | 1,689 | 1,504 | 1,221 | 4.7% |
Top Export Markets for Ferrous Waste and Scrap; of Cast Iron from India in 2022:
- Bhutan (2453.2 tons)
- Singapore (84.3 tons)
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This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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