Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK (FOB) - 2023
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK (CIF) - 2023
- Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK
- Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK
Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK (FOB) - 2023
The average export price for ferrous waste and scrap; of tinned iron or steels stood at $603 per ton in November 2023, with a decrease of -52.9% against the previous month. In general, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in January 2023 an increase of 176% month-to-month. As a result, the export price attained the peak level of $2,906 per ton. From February 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Pakistan ($821 per ton), while the average price for exports to the Netherlands ($328 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+3.1%), 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 the UK (CIF) - 2023
The average import price for ferrous waste and scrap; of tinned iron or steels stood at $270 per ton in November 2023, rising by 4% against the previous month. Over the period under review, the import price continues to indicate a perceptible expansion. The pace of growth was the most pronounced in August 2023 when the average import price increased by 128% m-o-m. As a result, import price attained the peak level of $461 per ton. From September 2023 to November 2023, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was Ireland ($272 per ton), while the price for Iceland totaled $238 per ton.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Ireland (+4.4%), 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 the UK
After two years of decline, overseas shipments of ferrous waste and scrap; of tinned iron or steels increased by 8.6% to 117K tons in 2022. In general, exports, however, faced a sharp shrinkage.
In value terms, exports of ferrous waste and scrap; of tinned iron or steels skyrocketed to $54M in 2022. Over the period under review, exports, however, saw a sharp downturn.
| Export of Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 2.0 | 6.2 | 16.4 | 17.1 | 104.5% |
| Lithuania | 4.2 | 1.5 | 8.7 | 11.3 | 39.1% |
| Pakistan | 36.8 | 6.7 | 5.9 | 6.9 | -42.8% |
| India | 12.6 | 1.2 | 0.6 | 3.3 | -36.0% |
| Spain | 11.8 | 16.3 | 10.0 | 2.6 | -39.6% |
| Morocco | N/A | N/A | N/A | 2.5 | 0% |
| Estonia | N/A | N/A | N/A | 2.4 | 0% |
| Portugal | 4.8 | 1.7 | N/A | 1.1 | -38.8% |
| Bangladesh | 6.3 | N/A | N/A | 0.3 | -63.8% |
| Belgium | 9.9 | 4.3 | 0.1 | N/A | -89.9% |
| Greece | N/A | 4.9 | N/A | N/A | 0% |
| Indonesia | 6.8 | N/A | N/A | N/A | 0% |
| Turkey | 4.3 | 0.5 | N/A | N/A | -88.4% |
| Others | 9.6 | 4.8 | 2.6 | 6.5 | -12.2% |
| Total | 109 | 48.0 | 44.2 | 54.0 | -20.9% |
Top Export Markets for Ferrous Waste and Scrap; of Tinned Iron or Steel from the UK in 2022:
- Netherlands (43.4K tons)
- Lithuania (27.9K tons)
- Pakistan (10.6K tons)
- Spain (7.3K tons)
- Morocco (6.0K tons)
- Estonia (4.9K tons)
- India (4.6K tons)
- Portugal (2.8K tons)
- Bangladesh (0.6K tons)
Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK
After three years of growth, supplies from abroad of ferrous waste and scrap; of tinned iron or steels decreased by -88% to 19K tons in 2022. Over the period under review, imports saw a dramatic decline. The most prominent rate of growth was recorded in 2020 when imports increased by 100% against the previous year.
In value terms, imports of ferrous waste and scrap; of tinned iron or steels declined sharply to $6M in 2022. Overall, imports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 101% against the previous year.
| Import of Ferrous Waste and Scrap; of Tinned Iron or Steel in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 13.1 | 27.4 | 51.3 | 3.6 | -35.0% |
| Netherlands | 0.1 | N/A | N/A | 2.3 | 184.4% |
| Others | 0.6 | 0.1 | 0.6 | 0.1 | -45.0% |
| Total | 13.7 | 27.5 | 51.9 | 6.0 | -24.1% |
Top Suppliers of Ferrous Waste and Scrap; of Tinned Iron or Steel to the UK in 2022:
- Ireland (12.3K tons)
- Netherlands (6.9K tons)
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This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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