Price for Ferrous Waste and Scrap; of Stainless Steel in Pakistan - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Stainless Steel in Pakistan (FOB) - 2023
- Price for Ferrous Waste and Scrap; of Stainless Steel in Pakistan (CIF) - 2022
- Exports of Ferrous Waste and Scrap; of Stainless Steel in Pakistan
- Imports of Ferrous Waste and Scrap; of Stainless Steel in Pakistan
Price for Ferrous Waste and Scrap; of Stainless Steel in Pakistan (FOB) - 2023
The average export price for ferrous waste and scrap; of stainless steels stood at $680 per ton in July 2023, increasing by 4.3% against the previous month. Over the period under review, the export price, however, saw a noticeable descent. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 11% month-to-month. The export price peaked at $1,181 per ton in November 2022; however, from December 2022 to July 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In July 2023, the highest price was recorded for prices to South Korea ($776 per ton) and Thailand ($771 per ton), while the average price for exports to the United Arab Emirates ($628 per ton) and China ($648 per ton) were amongst the lowest.
From August 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+13.8%), while the prices for the other major destinations experienced a decline.
Price for Ferrous Waste and Scrap; of Stainless Steel in Pakistan (CIF) - 2022
In 2022, the average import price for ferrous waste and scrap; of stainless steels amounted to $440 per ton, which is down by -27.5% against the previous year. Over the period under review, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2020 an increase of 52% against the previous year. The import price peaked at $818 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bahrain ($731 per ton), while the price for Mexico ($197 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Libya (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; of Stainless Steel in Pakistan
In 2022, overseas shipments of ferrous waste and scrap; of stainless steels decreased by -27.9% to 20K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +5.8% 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 +18.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, the exports attained the peak of 28K tons, and then fell sharply in the following year.
In value terms, exports of ferrous waste and scrap; of stainless steels dropped dramatically to $19M in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +14.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 65% against the previous year. As a result, the exports reached the peak of $23M, and then declined remarkably in the following year.
| Export of Ferrous Waste and Scrap; of Stainless Steel in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 7.0 | 13.6 | 22.2 | 16.7 | 33.6% |
| China | N/A | N/A | N/A | 0.6 | 0% |
| Thailand | 0.2 | 0.2 | N/A | 0.4 | 26.0% |
| South Korea | N/A | N/A | N/A | 0.3 | 0% |
| United Kingdom | 0.1 | 0.1 | 0.7 | 0.2 | 26.0% |
| India | 4.7 | N/A | N/A | N/A | 0% |
| Others | 1.0 | 0.2 | 0.5 | 1.0 | 0.0% |
| Total | 12.9 | 14.1 | 23.3 | 19.2 | 14.2% |
Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from Pakistan in 2022:
- United Arab Emirates (17.7K tons)
- China (0.6K tons)
- Thailand (0.4K tons)
- South Korea (0.4K tons)
- United Kingdom (0.2K tons)
Imports of Ferrous Waste and Scrap; of Stainless Steel in Pakistan
In 2022, the amount of ferrous waste and scrap; of stainless steels imported into Pakistan shrank rapidly to 1.2K tons, waning by -79.1% compared with the previous year. In general, imports continue to indicate a dramatic decline. The smallest decline of -2.5% was in 2021.
In value terms, imports of ferrous waste and scrap; of stainless steels reduced remarkably to $511K in 2022. Overall, imports recorded a precipitous decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 21% against the previous year. As a result, imports attained the peak of $3.4M, and then declined significantly in the following year.
| Import of Ferrous Waste and Scrap; of Stainless Steel in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 252 | 173 | 111 | 88.5 | -29.4% |
| Netherlands | 36.7 | 58.1 | 138 | 69.3 | 23.6% |
| Kuwait | 79.0 | 63.4 | 183 | 62.5 | -7.5% |
| Bahrain | 107 | 70.4 | 123 | 40.2 | -27.8% |
| United States | 675 | 1,074 | 1,082 | 31.6 | -64.0% |
| Australia | 208 | 176 | 203 | 24.4 | -51.0% |
| Mexico | 0.1 | 0.4 | N/A | 18.8 | 472.9% |
| France | 22.8 | 15.3 | 35.7 | 17.9 | -7.7% |
| Libya | 39.4 | 47.0 | 21.1 | 17.8 | -23.3% |
| Singapore | 78.2 | 173 | 70.5 | 11.4 | -47.4% |
| Denmark | 7.7 | 11.7 | 21.3 | 10.7 | 11.6% |
| Italy | 76.1 | 128 | 193 | 10.5 | -48.3% |
| Portugal | 2.9 | 9.7 | 15.2 | 7.6 | 37.9% |
| Others | 786 | 788 | 1,184 | 100 | -49.7% |
| Total | 2,370 | 2,790 | 3,382 | 511 | -40.0% |
Top Suppliers of Ferrous Waste and Scrap; of Stainless Steel to Pakistan in 2022:
- Philippines (211.4 tons)
- Kuwait (162.0 tons)
- Netherlands (100.3 tons)
- Mexico (95.7 tons)
- United States (56.6 tons)
- Bahrain (55.0 tons)
- Australia (53.5 tons)
- France (46.0 tons)
- Libya (35.5 tons)
- Denmark (26.6 tons)
- Singapore (23.6 tons)
- Italy (22.1 tons)
- Portugal (21.3 tons)
489
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Pakistan.
691
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
489
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Pakistan.
691
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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