Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States (CIF) - 2023
- Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States (FOB) - 2023
- Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States
- Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States
Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States (CIF) - 2023
In December 2023, the average import price for ferrous waste and scrap; of tinned iron or steels amounted to $387 per ton, approximately mirroring the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.0%. The growth pace was the most rapid in April 2023 an increase of 13% m-o-m. As a result, import price attained the peak level of $473 per ton. From May 2023 to December 2023, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From December 2022 to December 2023, the rate of growth in terms of prices for Canada amounted to +1.0% per month.
Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States (FOB) - 2023
In December 2023, the average export price for ferrous waste and scrap; of tinned iron or steels amounted to $250 per ton, picking up by 36% against the previous month. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 42% m-o-m. The export price peaked in December 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Pakistan ($470 per ton), while the average price for exports to Mexico ($53.0 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States
In 2022, after three years of growth, there was significant decline in supplies from abroad of ferrous waste and scrap; of tinned iron or steels, when their volume decreased by -9.9% to 227K tons. In general, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +17.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46%. As a result, imports attained the peak of 252K tons, and then dropped in the following year.
In value terms, imports of ferrous waste and scrap; of tinned iron or steels declined to $99M in 2022. Overall, imports, however, saw significant growth. The growth pace was the most rapid in 2021 with an increase of 116% against the previous year. As a result, imports reached the peak of $113M, and then reduced in the following year.
| Import of Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 47.0 | 51.7 | 112 | 97.1 | 27.4% |
| Mexico | 0.6 | 0.3 | 0.3 | 2.0 | 49.4% |
| Others | 0.4 | 0.2 | 0.3 | 0.1 | -37.0% |
| Total | 48.0 | 52.1 | 113 | 99.2 | 27.4% |
Top Suppliers of Ferrous Waste and Scrap; of Tinned Iron or Steel to the United States in 2022:
- Canada (222.5K tons)
- Mexico (4.5K tons)
Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States
In 2022, overseas shipments of ferrous waste and scrap; of tinned iron or steels decreased by -25.3% to 87K tons, falling for the second consecutive year after two years of growth. Overall, exports showed a perceptible descent. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year. As a result, the exports reached the peak of 117K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of ferrous waste and scrap; of tinned iron or steels contracted rapidly to $24M in 2022. In general, exports showed a pronounced decrease. The growth pace was the most rapid in 2020 when exports increased by 29% against the previous year.
| Export of Ferrous Waste and Scrap; of Tinned Iron or Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 6.1 | 4.5 | 10.8 | 6.9 | 4.2% |
| Thailand | 0.5 | 2.5 | 2.5 | 5.2 | 118.3% |
| Pakistan | 0.6 | 2.0 | 3.5 | 4.7 | 98.6% |
| India | 1.6 | 0.7 | 1.3 | 1.7 | 2.0% |
| Malaysia | 11.3 | 20.8 | 18.9 | 1.7 | -46.8% |
| Mexico | 1.2 | 0.8 | 1.5 | 1.6 | 10.1% |
| Taiwan (Chinese) | 2.6 | 2.4 | 1.8 | 1.4 | -18.6% |
| Ecuador | 1.7 | N/A | N/A | 0.1 | -61.1% |
| Others | 1.9 | 1.7 | 2.3 | 0.6 | -31.9% |
| Total | 27.5 | 35.4 | 42.6 | 24.0 | -4.4% |
Top Export Markets for Ferrous Waste and Scrap; of Tinned Iron or Steel from the United States in 2022:
- Thailand (27.5K tons)
- Mexico (22.6K tons)
- Canada (15.3K tons)
- India (6.7K tons)
- Taiwan (Chinese) (6.6K tons)
- Pakistan (6.0K tons)
- Malaysia (1.0K tons)
- Ecuador (0.2K tons)
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