Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in China - 2023

Contents:

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

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in China (CIF) - 2022

The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $692 per ton in 2022, picking up by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The import price peaked at $746 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 Taiwan (Chinese) ($1,398 per ton), while the price for the UK ($454 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in China (FOB) - 2022

In 2022, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $1,282 per ton, picking up by 591% against the previous year. Over the period under review, the export price posted a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($1,641 per ton), while the average price for exports to Taiwan (Chinese) ($214 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 Singapore (+22.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in China

In 2022, the amount of ferrous waste and scrap; remelting scrap ingots of iron or steels imported into China totaled 580K tons, growing by 4.9% against the previous year. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 1,894%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels skyrocketed to $402M in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 1,469% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.

Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to China in 2022:

1. Japan (352.4K tons)
2. United Kingdom (95.9K tons)
3. South Korea (54.4K tons)
4. Thailand (25.4K tons)
5. Malaysia (10.7K tons)
6. Taiwan (Chinese) (10.0K tons)
7. Hong Kong SAR (1.7K tons)

Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in China

In 2022, the amount of ferrous waste and scrap; remelting scrap ingots of iron or steels exported from China reduced remarkably to 1.8K tons, waning by -36.8% on 2021 figures. Over the period under review, exports faced a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 486% against the previous year. As a result, the exports reached the peak of 2.9K tons, and then shrank markedly in the following year.

In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels soared to $2.3M in 2022. Overall, exports, however, continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from China in 2022:

1. Malaysia (709.1 tons)
2. Singapore (589.5 tons)
3. Thailand (196.2 tons)
4. Japan (133.8 tons)
5. India (108.5 tons)
6. Vietnam (15.8 tons)