Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Spain - 2023

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

In November 2023, the average import price for ferrous waste and scrap; of tinned iron or steels amounted to $305 per ton, surging by 5.8% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in December 2022 when the average import price increased by 11% m-o-m. The import price peaked at $383 per ton in March 2023; however, from April 2023 to November 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In November 2023, the country with the highest price was Gibraltar ($272 per ton), while the price for Panama ($204 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Bolivia (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Spain (FOB) - 2023

The average export price for ferrous waste and scrap; of tinned iron or steels stood at $383 per ton in November 2023, growing by 15% against the previous month. In general, export price indicated tangible growth from November 2022 to November 2023: its price increased at an average monthly rate of +3.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for ferrous waste and scrap; of tinned iron or steels increased by +38.5% against September 2023 indices. The growth pace was the most rapid in December 2022 an increase of 35% against the previous month. The export price peaked at $438 per ton in June 2023; however, from July 2023 to November 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Pakistan.

From November 2022 to November 2023, the rate of growth in terms of prices for France amounted to +3.0% per month.

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

In 2022, approx. 177K tons of ferrous waste and scrap; of tinned iron or steels were imported into Spain; which is down by -20.3% on 2021 figures. Over the period under review, total imports indicated measured growth from 2019 to 2022: its volume increased at an average annual rate of +3.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 76%. As a result, imports attained the peak of 222K tons, and then dropped sharply in the following year.

In value terms, imports of ferrous waste and scrap; of tinned iron or steels fell sharply to $62M in 2022. In general, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 190%. As a result, imports reached the peak of $79M, and then contracted sharply in the following year.

Import of Ferrous Waste and Scrap; of Tinned Iron or Steel in Spain (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	19.9	18.4	55.0	46.1	32.3%
Portugal	2.7	2.7	8.5	7.5	40.6%
Ireland	8.7	1.7	7.1	6.0	-11.6%
United Kingdom	1.0	1.8	2.7	1.1	3.2%
Germany	0.5	1.2	2.0	0.9	21.6%
Belgium	0.9	1.0	2.6	0.2	-39.4%
Others	0.3	0.3	0.5	0.4	10.1%
Total	34.0	27.1	78.6	62.3	22.4%

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

France (139.4K tons)
Ireland (20.3K tons)
Portugal (7.2K tons)
Germany (3.6K tons)
United Kingdom (2.7K tons)
Belgium (0.6K tons)

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

Exports of ferrous waste and scrap; of tinned iron or steels from Spain rose significantly to 84K tons in 2022, with an increase of 14% compared with 2021 figures. Over the period under review, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +20.2% 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 +73.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 60% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of ferrous waste and scrap; of tinned iron or steels stood at $33M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.6% 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 +62.6% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 31%. The exports peaked in 2022 and are expected to retain growth in years to come.

Export of Ferrous Waste and Scrap; of Tinned Iron or Steel in Spain (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Portugal	8.2	15.3	20.7	13.7	18.7%
Turkey	N/A	N/A	3.9	13.5	246.2%
Pakistan	0.3	0.7	2.4	1.4	67.1%
France	0.7	1.0	3.0	1.0	12.6%
Others	11.3	9.7	1.3	3.6	-31.7%
Total	20.4	26.7	31.3	33.2	17.6%