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

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

In 2022, the average export price for ferrous waste and scrap; of stainless steels amounted to $815 per ton, growing by 17% against the previous year. In general, the export price continues to indicate prominent growth. The growth pace was the most rapid in 2021 when the average export price increased by 56%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($1,269 per ton), while the average price for exports to Pakistan ($461 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

The average import price for ferrous waste and scrap; of stainless steels stood at $4,076 per ton in 2022, shrinking by -27.4% against the previous year. In general, the import price continues to indicate a noticeable decrease. The growth pace was the most rapid in 2017 when the average import price increased by 78%. Over the period under review, average import prices reached the peak figure at $7,987 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 Germany ($33,364 per ton), while the price for India ($1,400 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+26.5%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, approx. 1.1K tons of ferrous waste and scrap; of stainless steels were exported from Kuwait; waning by -76.5% against 2021. Over the period under review, exports showed a dramatic contraction. The growth pace was the most rapid in 2021 with an increase of 101%. As a result, the exports attained the peak of 4.6K tons, and then dropped sharply in the following year.

In value terms, exports of ferrous waste and scrap; of stainless steels reduced remarkably to $878K in 2022. Overall, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2021 when exports increased by 215%. As a result, the exports reached the peak of $3.2M, and then reduced dramatically in the following year.

Export of Ferrous Waste and Scrap; of Stainless Steel in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Qatar	363	411	941	494	10.8%
India	282	291	1,740	158	-17.6%
South Korea	77.0	71.9	136	59.0	-8.5%
United Arab Emirates	102	82.0	133	42.2	-25.5%
China	7.7	11.9	37.4	26.8	51.5%
Malaysia	5.4	40.5	27.1	13.9	37.0%
Pakistan	7.1	8.9	21.3	11.0	15.7%
Others	107	101	166	72.9	-12.0%
Total	951	1,018	3,202	878	-2.6%

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

Qatar (660.6 tons)
India (238.3 tons)
South Korea (48.1 tons)
United Arab Emirates (42.4 tons)
Malaysia (27.1 tons)
Pakistan (23.8 tons)
China (21.1 tons)

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

In 2022, after three years of growth, there was significant decline in supplies from abroad of ferrous waste and scrap; of stainless steels, when their volume decreased by -57.7% to 997 kg. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 503%. As a result, imports reached the peak of 2.4 tons, and then dropped sharply in the following year.

In value terms, imports of ferrous waste and scrap; of stainless steels dropped rapidly to $4.1K in 2022. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 324% against the previous year. As a result, imports attained the peak of $13K, and then contracted significantly in the following year.

Import of Ferrous Waste and Scrap; of Stainless Steel in Kuwait (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	668	931	2,292	1,620	34.4%
United States	67.0	933	6,578	1,249	165.2%
Germany	290	472	1,709	734	36.3%
China	361	104	650	302	-5.8%
United Arab Emirates	105	132	370	123	5.4%
India	21.0	18.0	73.0	35.0	18.6%
South Korea	N/A	N/A	1,558	N/A	0%
Others	39.0	533	3.0	1.0	-70.5%
Total	1,551	3,123	13,233	4,064	37.9%