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

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

In 2022, the Southeast Asian metal remelting scrap ingots market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption showed a perceptible contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, metal remelting scrap ingots production declined to $X in 2022 estimated in export price. In general, production showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Remelting Scrap Ingots Of Iron Or Steel

Exports in South-Eastern Asia

In 2022, metal remelting scrap ingots exports in South-Eastern Asia declined notably to X tons, reducing by X% compared with the previous year's figure. Over the period under review, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal remelting scrap ingots exports reduced slightly to $X in 2022. In general, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) represented roughly X% of total exports in 2022.

Singapore 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. From 2012 to 2022, the share of Singapore increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) also remains the largest metal remelting scrap ingots supplier in South-Eastern Asia.

In Singapore, metal remelting scrap ingots exports declined by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Singapore.

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

Imports of Remelting Scrap Ingots Of Iron Or Steel

Imports in South-Eastern Asia

After two years of growth, purchases abroad of remelting scrap ingots of iron or steel decreased by X% to X tons in 2022. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal remelting scrap ingots imports contracted markedly to $X in 2022. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Singapore represented the largest importer of remelting scrap ingots of iron or steel in South-Eastern Asia, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Vietnam (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%).

From 2012 to 2022, average annual rates of growth with regard to metal remelting scrap ingots imports into Singapore stood at X%. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Vietnam (X%) illustrated a downward trend over the same period. Singapore (X p.p.), the Philippines (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported remelting scrap ingots of iron or steel in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports.

In Singapore, metal remelting scrap ingots imports declined by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and the Philippines (X% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, recorded a perceptible setback. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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