Price for Ferrous Waste and Scrap; of Stainless Steel in Spain - 2023

Price for Ferrous Waste and Scrap; of Stainless Steel in Spain (CIF) - 2023

The average import price for ferrous waste and scrap; of stainless steels stood at $1,831 per ton in December 2023, with an increase of 1.6% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.6%. The pace of growth was the most pronounced in February 2023 when the average import price increased by 16% against the previous month. Over the period under review, average import prices attained the peak figure at $2,061 per ton in April 2023; however, from May 2023 to December 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($2,103 per ton), while the price for Colombia ($1,380 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average export price for ferrous waste and scrap; of stainless steels stood at $2,015 per ton in 2022, remaining constant against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 42%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($17,485 per ton), while the average price for exports to Taiwan (Chinese) ($1,518 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 the UK (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

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

In 2022, approx. 206K tons of ferrous waste and scrap; of stainless steels were imported into Spain; shrinking by -36.6% compared with the previous year. Over the period under review, imports faced a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 17%. As a result, imports attained the peak of 325K tons, and then declined rapidly in the following year.

In value terms, imports of ferrous waste and scrap; of stainless steels fell to $491M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 63%. As a result, imports attained the peak of $554M, and then declined in the following year.

Import of Ferrous Waste and Scrap; of Stainless Steel in Spain (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	57.5	87.8	240	211	54.2%
Turkey	41.4	50.2	108	95.6	32.2%
Portugal	26.8	24.6	54.7	46.8	20.4%
Netherlands	164	118	74.3	46.6	-34.3%
Mexico	10.9	12.0	17.1	22.4	27.1%
France	14.1	14.2	16.0	17.3	7.1%
Brazil	3.8	2.1	5.0	10.6	40.8%
Italy	26.6	8.0	11.9	10.3	-27.1%
Colombia	3.6	1.9	4.8	7.1	25.4%
Others	21.6	19.8	22.3	23.2	2.4%
Total	370	339	554	491	9.9%

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

Germany (83.2K tons)
Turkey (41.2K tons)
Portugal (26.2K tons)
Netherlands (14.2K tons)
Mexico (11.5K tons)
France (9.4K tons)
Brazil (3.9K tons)
Colombia (3.3K tons)
Italy (3.2K tons)

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

Exports of ferrous waste and scrap; of stainless steels from Spain skyrocketed to 59K tons in 2022, picking up by 19% on the year before. Overall, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 119% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, exports of ferrous waste and scrap; of stainless steels surged to $119M in 2022. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 211% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Export of Ferrous Waste and Scrap; of Stainless Steel in Spain (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belgium	0.3	0.5	8.5	26.6	345.9%
India	5.7	6.3	21.3	24.6	62.8%
Italy	4.8	3.9	6.8	21.9	65.9%
Germany	14.4	11.1	6.8	10.0	-11.4%
Taiwan (Chinese)	N/A	N/A	N/A	8.4	0%
France	4.3	2.6	8.2	7.3	19.3%
China	0.1	N/A	N/A	5.5	280.3%
Netherlands	10.1	1.2	33.4	3.1	-32.5%
Others	11.9	6.2	13.7	11.3	-1.7%
Total	51.6	31.8	98.8	119	32.1%