Price for Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR (FOB) - 2023
- Price for Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR (CIF) - 2023
- Exports of Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR
- Imports of Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR
Price for Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR (FOB) - 2023
The average export price for ferrous waste and scrap; of stainless steels stood at $1,342 per ton in November 2023, which is down by -5.6% against the previous month. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 an increase of 5.4% against the previous month. Over the period under review, the average export prices reached the peak figure at $1,597 per ton in March 2023; however, from April 2023 to November 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major foreign markets. In November 2023, the countries with the highest prices were India ($1,715 per ton) and China ($1,354 per ton), while the average price for exports to Taiwan (Chinese) ($1,278 per ton) and Thailand ($1,330 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+0.8%), while the prices for the other major destinations experienced a decline.
Price for Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR (CIF) - 2023
The average import price for ferrous waste and scrap; of stainless steels stood at $1,699 per ton in November 2023, with an increase of 45% against the previous month. In general, import price indicated pronounced growth from November 2022 to November 2023: its price increased at an average monthly rate of +3.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for ferrous waste and scrap; of stainless steels decreased by -17.9% against September 2023 indices. The import price peaked at $2,069 per ton in September 2023; however, from October 2023 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Macao SAR ($2,652 per ton), while the price for Malaysia ($1,105 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 Canada (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR
In 2022, the amount of ferrous waste and scrap; of stainless steels exported from Hong Kong SAR dropped to 20K tons, waning by -10.7% on the previous year's figure. In general, exports saw a precipitous contraction. The pace of growth appeared the most rapid in 2021 with an increase of 35%.
In value terms, exports of ferrous waste and scrap; of stainless steels contracted to $32M in 2022. Overall, exports showed a sharp slump. The most prominent rate of growth was recorded in 2021 with an increase of 90%.
| Export of Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 7.4 | 5.9 | 10.0 | 10.0 | 10.6% |
| Taiwan (Chinese) | 9.0 | 7.2 | 11.5 | 9.8 | 2.9% |
| Thailand | 3.7 | 5.4 | 10.3 | 3.6 | -0.9% |
| Japan | N/A | N/A | 1.3 | 3.6 | 176.9% |
| South Korea | 0.3 | 0.4 | 2.7 | 3.2 | 120.1% |
| China | 44.0 | 0.3 | 0.5 | 1.5 | -67.6% |
| Others | 0.3 | N/A | 0.3 | 0.4 | 10.1% |
| Total | 64.6 | 19.3 | 36.6 | 32.2 | -20.7% |
Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from Hong Kong SAR in 2022:
- Taiwan (Chinese) (5.7K tons)
- India (5.7K tons)
- South Korea (3.0K tons)
- Thailand (2.4K tons)
- Japan (1.7K tons)
- China (1.0K tons)
Imports of Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR
In 2022, supplies from abroad of ferrous waste and scrap; of stainless steels was finally on the rise to reach 1.4K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a dramatic setback.
In value terms, imports of ferrous waste and scrap; of stainless steels expanded significantly to $2M in 2022. Over the period under review, imports, however, showed a sharp slump.
| Import of Ferrous Waste and Scrap; of Stainless Steel in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 8.2 | 657 | 1,030 | 1,069 | 407.1% |
| China | 1,269 | 708 | 664 | 391 | -32.5% |
| United States | 1,383 | 549 | N/A | 149 | -52.4% |
| Chile | N/A | N/A | N/A | 137 | 0% |
| Japan | 314 | 191 | 5.3 | 109 | -29.7% |
| Malaysia | 73.8 | N/A | N/A | 94.4 | 8.6% |
| South Korea | N/A | 26.4 | 28.3 | 33.1 | 12.0% |
| Thailand | 493 | N/A | 42.7 | N/A | -70.6% |
| Denmark | 443 | N/A | N/A | N/A | 0% |
| Italy | 1,329 | 33.9 | N/A | N/A | -97.4% |
| Canada | 402 | 25.0 | N/A | N/A | -93.8% |
| Others | 1,277 | 73.3 | 66.2 | 36.8 | -69.3% |
| Total | 6,992 | 2,264 | 1,836 | 2,019 | -33.9% |
Top Suppliers of Ferrous Waste and Scrap; of Stainless Steel to Hong Kong SAR in 2022:
- Macao SAR (476.1 tons)
- China (307.4 tons)
- Japan (224.1 tons)
- United States (190.6 tons)
- Chile (87.1 tons)
- Malaysia (62.0 tons)
- South Korea (59.8 tons)
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in Hong Kong SAR, China.
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This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
299
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Hong Kong SAR, China.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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