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

Contents:

1. Price for Ferrous Waste and Scrap; of Stainless Steel in Iraq (FOB) - 2022
2. Price for Ferrous Waste and Scrap; of Stainless Steel in Iraq (CIF) - 2022
3. Exports of Ferrous Waste and Scrap; of Stainless Steel in Iraq
4. Imports of Ferrous Waste and Scrap; of Stainless Steel in Iraq

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

In 2022, the average export price for ferrous waste and scrap; of stainless steels amounted to $2,162 per ton, increasing by 3.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2013 an increase of 4.5% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +2.4% per year.

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

The average import price for ferrous waste and scrap; of stainless steels stood at $1,954 per ton in 2022, surging by 47% against the previous year. Over the period under review, the import price continues to indicate a strong increase. The pace of growth was the most pronounced in 2014 an increase of 109% against the previous year. The import price peaked at $2,731 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($10,611 per ton), while the price for the United Arab Emirates ($1,068 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+30.0%), while the prices for the other major suppliers experienced mixed trend patterns.

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

For the fourth year in a row, Iraq recorded growth in shipments abroad of ferrous waste and scrap; of stainless steels, which increased by 35% to 43 tons in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +22.1% 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 +82.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of ferrous waste and scrap; of stainless steels skyrocketed to $94K in 2022. In general, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

1. United Arab Emirates (43.5 tons)

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

In 2022, overseas purchases of ferrous waste and scrap; of stainless steels decreased by -76.9% to 8.6 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 88% against the previous year. As a result, imports attained the peak of 163 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of ferrous waste and scrap; of stainless steels shrank markedly to $17K in 2022. Overall, imports showed a precipitous decline. The smallest decline of -38.5% was in 2020.

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

1. United Arab Emirates (7.7 tons)
2. South Korea (0.8 tons)

Source: IndexBox Market Intelligence Platform