Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR - 2023
Contents:
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR (FOB) - 2023
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR (CIF) - 2023
- Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR
- Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR (FOB) - 2023
In August 2023, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $409 per ton, flattening at the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 7.6% against the previous month. As a result, the export price reached the peak level of $451 per ton. From April 2023 to August 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 Taiwan (Chinese) ($523 per ton), while the average price for exports to Vietnam ($347 per ton) was amongst the lowest.
From November 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR (CIF) - 2023
The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $790 per ton in August 2023, dropping by -4.7% against the previous month. Overall, the import price, however, enjoyed buoyant growth. The pace of growth was the most pronounced in December 2022 an increase of 145% against the previous month. Over the period under review, average import prices attained the peak figure at $829 per ton in July 2023, and then dropped slightly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was New Zealand ($1,631 per ton), while the price for Macao SAR ($369 per ton) was amongst the lowest.
From November 2022 to August 2023, the most notable rate of growth in terms of prices was attained by South Korea (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR
Exports of ferrous waste and scrap; remelting scrap ingots of iron or steels from Hong Kong SAR contracted to 933K tons in 2022, with a decrease of -12.8% compared with the year before. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 30% against the previous year. As a result, the exports attained the peak of 1.1M tons, and then contracted in the following year.
In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels shrank notably to $422M in 2022. In general, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 107% against the previous year. As a result, the exports reached the peak of $515M, and then reduced notably in the following year.
| Export of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 109 | 114 | 211 | 160 | 13.6% |
| Indonesia | 60.7 | 66.2 | 147 | 134 | 30.2% |
| Taiwan (Chinese) | 41.6 | 19.2 | 47.3 | 38.0 | -3.0% |
| India | 18.6 | 10.4 | 12.6 | 31.1 | 18.7% |
| Malaysia | 20.8 | 18.8 | 43.6 | 17.9 | -4.9% |
| Philippines | 1.8 | 0.3 | 14.1 | 9.4 | 73.5% |
| China | 57.2 | 1.8 | 10.2 | 4.5 | -57.2% |
| Others | 25.6 | 17.7 | 29.7 | 27.6 | 2.5% |
| Total | 335 | 249 | 515 | 422 | 8.0% |
Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from Hong Kong SAR in 2022:
- Vietnam (418.1K tons)
- Indonesia (278.7K tons)
- Taiwan (Chinese) (78.0K tons)
- India (54.6K tons)
- Malaysia (39.2K tons)
- Philippines (19.7K tons)
- China (3.9K tons)
Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR
For the third year in a row, Hong Kong SAR recorded decline in supplies from abroad of ferrous waste and scrap; remelting scrap ingots of iron or steels, which decreased by -55.4% to 47K tons in 2022. Overall, imports continue to indicate a sharp decrease. The smallest decline of -17.2% was in 2021.
In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels reduced remarkably to $27M in 2022. In general, imports recorded a precipitous curtailment. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year.
| Import of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 13.2 | 9.5 | 12.1 | 7.0 | -19.1% |
| United States | 43.3 | 15.3 | 16.8 | 5.7 | -49.1% |
| Australia | 2.4 | 0.3 | 2.3 | 3.0 | 7.7% |
| Canada | 1.4 | 0.3 | 1.6 | 2.1 | 14.5% |
| Malaysia | 2.2 | 0.7 | 4.1 | 2.0 | -3.1% |
| China | 4.0 | 3.0 | 4.4 | 1.8 | -23.4% |
| United Kingdom | 1.0 | 0.5 | 1.8 | 1.7 | 19.3% |
| South Korea | 0.8 | 0.6 | 1.0 | 0.6 | -9.1% |
| Japan | 5.4 | 3.0 | 3.3 | 0.4 | -58.0% |
| Taiwan (Chinese) | 2.9 | 1.7 | 0.6 | 0.2 | -59.0% |
| Italy | 4.0 | 0.6 | 0.5 | N/A | -64.6% |
| Others | 11.4 | 12.6 | 8.9 | 2.8 | -37.4% |
| Total | 91.9 | 48.2 | 57.5 | 27.2 | -33.4% |
Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to Hong Kong SAR in 2022:
- Macao SAR (24.6K tons)
- United States (7.5K tons)
- Australia (2.4K tons)
- China (2.3K tons)
- South Korea (1.9K tons)
- Canada (1.7K tons)
- Malaysia (1.7K tons)
- United Kingdom (1.3K tons)
- Japan (0.4K tons)
- Taiwan (Chinese) (0.2K tons)
297
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Hong Kong SAR, China.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
297
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Hong Kong SAR, China.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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