Eastern Asia: Market for Remelting Scrap Ingots Of Iron Or Steel 2024

Market Size for Remelting Scrap Ingots Of Iron Or Steel in Eastern Asia

In 2022, the East Asian metal remelting scrap ingots market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a prominent expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Remelting Scrap Ingots Of Iron Or Steel in Eastern Asia

In value terms, metal remelting scrap ingots production fell markedly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Remelting Scrap Ingots Of Iron Or Steel

Exports in Eastern Asia

In 2022, the amount of remelting scrap ingots of iron or steel exported in Eastern Asia declined sharply to X tons, reducing by X% on the year before. Overall, exports saw a precipitous decrease. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal remelting scrap ingots exports soared to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, South Korea (X tons) represented the main exporter of remelting scrap ingots of iron or steel, achieving X% of total exports. It was distantly followed by Hong Kong SAR (X tons), mixing up a X% share of total exports. Japan (X tons) followed a long way behind the leaders.

South Korea was also the fastest-growing in terms of the remelting scrap ingots of iron or steel exports, with a CAGR of X% from 2012 to 2022. Hong Kong SAR (X%) and Japan (X%) illustrated a downward trend over the same period. South Korea (X p.p.) and Hong Kong SAR (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, South Korea ($X) remains the largest metal remelting scrap ingots supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

In South Korea, metal remelting scrap ingots exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price enjoyed a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Remelting Scrap Ingots Of Iron Or Steel

Imports in Eastern Asia

Metal remelting scrap ingots imports soared to X tons in 2022, rising by X% compared with the previous year. In general, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal remelting scrap ingots imports soared to $X in 2022. Overall, imports showed a perceptible expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of metal remelting scrap ingots imports in 2022 were South Korea (X tons), together reaching X% of total import.

South Korea was also the fastest-growing in terms of the remelting scrap ingots of iron or steel imports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of South Korea increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported remelting scrap ingots of iron or steel in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in South Korea stood at X%.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for South Korea.

From 2012 to 2022, the rate of growth in terms of prices for South Korea amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :