Price for Ferrous Waste and Scrap; of Stainless Steel in the United States - 2024
Contents:
- Price for Ferrous Waste and Scrap; of Stainless Steel in the United States (FOB) - 2022
- Price for Ferrous Waste and Scrap; of Stainless Steel in the United States (CIF) - 2024
- Exports of Ferrous Waste and Scrap; of Stainless Steel in the United States
- Imports of Ferrous Waste and Scrap; of Stainless Steel in the United States
Price for Ferrous Waste and Scrap; of Stainless Steel in the United States (FOB) - 2022
The average export price for ferrous waste and scrap; of stainless steels stood at $972 per ton in 2022, reducing by -14.7% against the previous year. Overall, the export price showed a pronounced reduction. The growth pace was the most rapid in 2021 an increase of 31% against the previous year. The export price peaked at $1,401 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($1,794 per ton), while the average price for exports to Mexico ($79 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 South Korea (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; of Stainless Steel in the United States (CIF) - 2024
In December 2023, the average import price for ferrous waste and scrap; of stainless steels amounted to $1,132 per ton, growing by 2.2% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 when the average import price increased by 9.9% m-o-m. The import price peaked at $1,246 per ton in March 2023; however, from April 2023 to December 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Canada ($1,376 per ton), while the price for Mexico amounted to $839 per ton.
From February 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Canada (-0.5%).
Exports of Ferrous Waste and Scrap; of Stainless Steel in the United States
In 2022, after two years of decline, there was significant growth in overseas shipments of ferrous waste and scrap; of stainless steels, when their volume increased by 36% to 399K tons. Over the period under review, exports, however, saw a slight reduction.
In value terms, exports of ferrous waste and scrap; of stainless steels soared to $388M in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 22%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the near future.
| Export of Ferrous Waste and Scrap; of Stainless Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 129 | 114 | 195 | 226 | 20.6% |
| Canada | 21.9 | 22.6 | 42.2 | 50.1 | 31.8% |
| Taiwan (Chinese) | 128 | 77.5 | 31.9 | 38.4 | -33.1% |
| South Korea | 11.2 | 11.5 | 13.4 | 12.6 | 4.0% |
| Pakistan | 15.2 | 9.5 | 11.1 | 9.6 | -14.2% |
| Mexico | 2.2 | 1.4 | 3.0 | 5.8 | 38.1% |
| Thailand | 2.3 | 3.8 | 3.1 | 5.2 | 31.2% |
| Malaysia | 8.5 | 6.9 | 9.6 | 3.4 | -26.3% |
| Others | 34.9 | 26.2 | 24.8 | 36.5 | 1.5% |
| Total | 353 | 273 | 334 | 388 | 3.2% |
Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from the United States in 2022:
- India (173.9K tons)
- Mexico (73.6K tons)
- Canada (64.7K tons)
- Taiwan (Chinese) (32.7K tons)
- Pakistan (18.4K tons)
- South Korea (7.0K tons)
- Thailand (4.6K tons)
- Malaysia (2.7K tons)
Imports of Ferrous Waste and Scrap; of Stainless Steel in the United States
After three years of growth, purchases abroad of ferrous waste and scrap; of stainless steels decreased by -10.5% to 240K tons in 2022. The total import volume increased at an average annual rate of +5.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, imports reached the peak of 268K tons, and then reduced in the following year.
In value terms, imports of ferrous waste and scrap; of stainless steels amounted to $387M in 2022. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 87%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Ferrous Waste and Scrap; of Stainless Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 119 | 125 | 229 | 224 | 23.5% |
| Mexico | 62.7 | 58.4 | 116 | 145 | 32.2% |
| Others | 6.0 | 13.5 | 23.3 | 18.1 | 44.5% |
| Total | 187 | 197 | 368 | 387 | 27.4% |
Top Suppliers of Ferrous Waste and Scrap; of Stainless Steel to the United States in 2022:
- Canada (116.0K tons)
- Mexico (112.0K tons)
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