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

Contents:

1. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Pakistan (CIF) - 2023
2. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Pakistan (FOB) - 2023
3. Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Pakistan
4. Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Pakistan

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Pakistan (CIF) - 2023

In February 2023, the average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $363 per ton, with a decrease of -35.4% against the previous month. Over the period under review, the import price saw a abrupt descent. The pace of growth appeared the most rapid in December 2022 an increase of 56% against the previous month. The import price peaked at $607 per ton in July 2022; however, from August 2022 to February 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was Belgium ($551 per ton), while the price for Australia ($89.0 per ton) was amongst the lowest.

From July 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Latvia (-3.3%), while the prices for the other major suppliers experienced a decline.

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Pakistan (FOB) - 2023

The average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $673 per ton in February 2023, dropping by -1.6% against the previous month. Over the period under review, the export price saw a perceptible decline. The most prominent rate of growth was recorded in August 2022 when the average export price increased by 17% m-o-m. Over the period under review, the average export prices reached the maximum at $1,175 per ton in November 2022; however, from December 2022 to February 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In February 2023, the highest price was recorded for prices to Japan ($747 per ton) and China ($727 per ton), while the average price for exports to Malaysia ($539 per ton) and the United Arab Emirates ($579 per ton) were amongst the lowest.

From July 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-4.4%), while the prices for the other major destinations experienced a decline.

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

In 2022, overseas purchases of ferrous waste and scrap; remelting scrap ingots of iron or steels decreased by -25.6% to 3.1M tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a slight slump. The most prominent rate of growth was recorded in 2020 when imports increased by 42% against the previous year. As a result, imports reached the peak of 4.5M tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels shrank dramatically to $1.7B in 2022. The total import value increased at an average annual rate of +4.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. As a result, imports attained the peak of $2.2B, and then dropped markedly in the following year.

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

1. United Kingdom (715.2K tons)
2. United States (475.7K tons)
3. United Arab Emirates (384.8K tons)
4. Poland (113.8K tons)
5. Kuwait (102.1K tons)
6. Belgium (85.1K tons)
7. South Africa (83.4K tons)
8. Sweden (82.8K tons)
9. Iran (74.2K tons)
10. Canada (67.1K tons)
11. Norway (55.9K tons)
12. Italy (55.1K tons)
13. Bahrain (52.9K tons)

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

After three years of growth, overseas shipments of ferrous waste and scrap; remelting scrap ingots of iron or steels decreased by -26% to 21K tons in 2022. In general, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +7.5% 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 +24.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 53% against the previous year. As a result, the exports reached the peak of 29K tons, and then dropped sharply in the following year.

In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels dropped notably to $20M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.1% 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 +48.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 55%. As a result, the exports attained the peak of $24M, and then reduced sharply in the following year.

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

1. United Arab Emirates (18.0K tons)
2. South Korea (0.8K tons)
3. China (0.6K tons)
4. Thailand (0.5K tons)
5. United Kingdom (0.3K tons)
6. Taiwan (Chinese) (0.2K tons)
7. Malaysia (0.1K tons)