Price for Ferrous Waste and Scrap; of Stainless Steel in Ethiopia - 2022

Price for Ferrous Waste and Scrap; of Stainless Steel in Ethiopia (CIF) - 2022

In 2022, the average import price for ferrous waste and scrap; of stainless steels amounted to $2,155 per ton, dropping by -41% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 101% against the previous year. As a result, import price reached the peak level of $3,652 per ton, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($4,845 per ton), while the price for China ($1,203 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Ferrous Waste and Scrap; of Stainless Steel in Ethiopia (FOB) - 2022

In 2022, the average export price for ferrous waste and scrap; of stainless steels amounted to $114 per ton, declining by -12.2% against the previous year. Over the period under review, the export price faced a abrupt descent. The growth pace was the most rapid in 2020 a decrease of -12.2%. The export price peaked at $918 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -12.1% per year.

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

After two years of decline, supplies from abroad of ferrous waste and scrap; of stainless steels increased by 78% to 7.1 tons in 2022. Over the period under review, imports, however, recorded a precipitous contraction.

In value terms, imports of ferrous waste and scrap; of stainless steels totaled $15K in 2022. Overall, imports, however, recorded a dramatic downturn.

Import of Ferrous Waste and Scrap; of Stainless Steel in Ethiopia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Tunisia	58.6	1.5	0.8	7.8	-48.9%
China	7.4	0.2	0.5	4.5	-15.3%
Italy	12.0	0.5	0.3	2.8	-38.4%
France	N/A	N/A	N/A	0.4	0%
Chile	N/A	19.8	N/A	N/A	0%
United Kingdom	N/A	N/A	13.0	N/A	0%
Brazil	N/A	22.6	N/A	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	78.0	44.7	14.7	15.4	-41.8%

Top Suppliers of Ferrous Waste and Scrap; of Stainless Steel to Ethiopia in 2022:

China (3.7 tons)
Tunisia (2.6 tons)
Italy (0.6 tons)
France (0.2 tons)

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

For the fourth consecutive year, Ethiopia recorded growth in shipments abroad of ferrous waste and scrap; of stainless steels, which increased by 1.7% to 13 tons in 2022. The total export volume increased at an average annual rate of +1.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 1.7%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of ferrous waste and scrap; of stainless steels declined to $1.4K in 2022. Over the period under review, exports, however, continue to indicate a deep reduction. The smallest decline of -10.7% was in 2020.