Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia - 2024

Contents:

1. Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia (FOB) - 2024
2. Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia (CIF) - 2022
3. Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia
4. Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia

Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia (FOB) - 2024

In December 2023, the average export price for ferrous waste and scrap; of tinned iron or steels amounted to $118 per ton, which is down by -64.7% against the previous month. Over the period under review, the export price showed a noticeable slump. The pace of growth appeared the most rapid in November 2023 when the average export price increased by 38% month-to-month. As a result, the export price reached the peak level of $334 per ton, and then declined significantly in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was India ($309 per ton), while the average price for exports to South Korea ($59.0 per ton) was amongst the lowest.

From January 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia (CIF) - 2022

In 2022, the average import price for ferrous waste and scrap; of tinned iron or steels amounted to $348 per ton, therefore, remained relatively stable against the previous year. In general, the import price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 when the average import price increased by 24% against the previous year. As a result, import price attained the peak level of $643 per ton. From 2016 to 2022, the average import prices failed to regain momentum.

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 Fiji ($2,107 per ton), while the price for New Zealand ($227 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia

In 2022, the amount of ferrous waste and scrap; of tinned iron or steels exported from Australia dropped significantly to 17K tons, which is down by -44.2% against the previous year's figure. In general, exports saw a deep contraction. The growth pace was the most rapid in 2021 with an increase of 21%. As a result, the exports attained the peak of 30K tons, and then shrank significantly in the following year.

In value terms, exports of ferrous waste and scrap; of tinned iron or steels declined to $7.8M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +13.5% 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 +46.4% 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 $8.9M, and then reduced in the following year.

Top Export Markets for Ferrous Waste and Scrap; of Tinned Iron or Steel from Australia in 2022:

1. Indonesia (8.2K tons)
2. Taiwan (Chinese) (5.2K tons)
3. India (1.6K tons)
4. Malaysia (1.0K tons)
5. Netherlands (0.3K tons)
6. South Korea (0.2K tons)

Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Australia

In 2022, overseas purchases of ferrous waste and scrap; of tinned iron or steels decreased by 0% to 8.6 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2020 when imports increased by 673%. As a result, imports reached the peak of 15 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of ferrous waste and scrap; of tinned iron or steels totaled $3K in 2022. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 545%. As a result, imports attained the peak of $6K. From 2021 to 2022, the growth of imports of remained at a lower figure.

Top Suppliers of Ferrous Waste and Scrap; of Tinned Iron or Steel to Australia in 2022:

1. New Zealand (7.5 tons)
2. Papua New Guinea (0.6 tons)
3. United Kingdom (0.3 tons)
4. Fiji (0.2 tons)

Source: IndexBox Market Intelligence Platform