Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK - 2023
Contents:
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK (FOB) - 2022
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK (CIF) - 2022
- Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK
- Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK (FOB) - 2022
In 2022, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $486 per ton, waning by -4.8% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 65%. As a result, the export price reached the peak level of $511 per ton, and then declined slightly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($636 per ton), while the average price for exports to Spain ($318 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 France (+3.5%), 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 the UK (CIF) - 2022
The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $475 per ton in 2022, increasing by 15% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2021 when the average import price increased by 72% against the previous year. Over the period under review, average import prices hit record highs at $736 per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Germany ($3,161 per ton), while the price for Ireland ($341 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+23.0%), while the prices for the other major suppliers experienced a decline.
Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK
In 2022, the amount of ferrous waste and scrap; remelting scrap ingots of iron or steels exported from the UK expanded to 8M tons, increasing by 2.3% compared with the year before. The total export volume increased at an average annual rate of +3.8% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 15%. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in the near future.
In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels reduced to $3.9B in 2022. Over the period under review, exports posted resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 91% against the previous year. As a result, the exports attained the peak of $4B, and then contracted slightly in the following year.
| Export of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 583 | 626 | 970 | 808 | 11.5% |
| India | 320 | 216 | 181 | 634 | 25.6% |
| Egypt | 261 | 190 | 642 | 600 | 32.0% |
| Pakistan | 327 | 319 | 460 | 345 | 1.8% |
| Bangladesh | 241 | 60.9 | 295 | 345 | 12.7% |
| Italy | 1.2 | 25.3 | 199 | 131 | 377.9% |
| Spain | 216 | 129 | 284 | 125 | -16.7% |
| Morocco | 12.9 | 11.2 | 35.6 | 100 | 97.9% |
| Netherlands | 36.0 | 34.3 | 70.7 | 91.8 | 36.6% |
| Saudi Arabia | 7.2 | 47.5 | 0.8 | 68.0 | 111.4% |
| Belgium | 44.7 | 44.8 | 66.1 | 67.0 | 14.4% |
| Portugal | 66.0 | 63.6 | 101 | 52.6 | -7.3% |
| Indonesia | 115 | 55.4 | 57.8 | 48.7 | -24.9% |
| Others | 359 | 280 | 652 | 495 | 11.3% |
| Total | 2,590 | 2,104 | 4,015 | 3,912 | 14.7% |
Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from the UK in 2022:
- Turkey (1840.3K tons)
- Egypt (1395.7K tons)
- India (997.6K tons)
- Bangladesh (730.3K tons)
- Pakistan (672.1K tons)
- Spain (392.3K tons)
- Italy (278.3K tons)
- Morocco (216.7K tons)
- Netherlands (179.6K tons)
- Saudi Arabia (172.1K tons)
- Indonesia (132.3K tons)
- Portugal (127.0K tons)
- Belgium (81.9K tons)
Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK
In 2022, overseas purchases of ferrous waste and scrap; remelting scrap ingots of iron or steels decreased by -46.6% to 229K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 35%.
In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels declined notably to $109M in 2022. Overall, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of 86%. As a result, imports attained the peak of $177M, and then dropped markedly in the following year.
| Import of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 53.9 | 64.2 | 115 | 61.9 | 4.7% |
| Mexico | 0.1 | 4.1 | 11.0 | 10.2 | 367.2% |
| Netherlands | 9.0 | 4.6 | 13.0 | 3.1 | -29.9% |
| Russia | 8.1 | 4.2 | 12.4 | 0.2 | -70.9% |
| Malta | 5.8 | 5.8 | 4.1 | 0.1 | -74.2% |
| Others | 35.5 | 12.2 | 20.8 | 33.4 | -2.0% |
| Total | 112 | 95.0 | 177 | 109 | -0.9% |
Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to the UK in 2022:
- Ireland (181.7K tons)
- Mexico (24.8K tons)
- Netherlands (7.3K tons)
- Russia (0.4K tons)
- Malta (0.1K tons)
354
This report provides an in-depth analysis of the market for metal remelting scrap ingots in the UK.
680
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
354
This report provides an in-depth analysis of the market for metal remelting scrap ingots in the UK.
680
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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