Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India - 2023
Contents:
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India (CIF) - 2023
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India (FOB) - 2023
- Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India
- Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India (CIF) - 2023
The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $610 per ton in July 2023, which is down by -1.8% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 10% m-o-m. Over the period under review, average import prices attained the maximum at $621 per ton in June 2023, and then contracted slightly in the following month.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Malaysia ($817 per ton), while the price for Yemen ($416 per ton) was amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India (FOB) - 2023
The average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $1,957 per ton in July 2023, increasing by 42% against the previous month. Over the period under review, export price indicated buoyant growth from November 2022 to July 2023: its price increased at an average monthly rate of +9.4% over the last eight-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, export price for ferrous waste and scrap; remelting scrap ingots of iron or steels increased by +54.4% against May 2023 indices. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 95% m-o-m. The export price peaked in July 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Sweden ($4,269 per ton), while the average price for exports to Singapore ($147 per ton) was amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+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 India
After two years of decline, overseas purchases of ferrous waste and scrap; remelting scrap ingots of iron or steels increased by 63% to 8.5M tons in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +6.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels skyrocketed to $6.1B in 2022. Overall, imports enjoyed a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 777 | 221 | 647 | 912 | 5.5% |
| United States | 403 | 356 | 422 | 879 | 29.7% |
| United Kingdom | 312 | 218 | 181 | 557 | 21.3% |
| Singapore | 223 | 185 | 334 | 384 | 19.9% |
| Netherlands | 161 | 111 | 183 | 278 | 20.0% |
| Malaysia | 113 | 151 | 234 | 274 | 34.3% |
| Canada | 121 | 89.8 | 119 | 180 | 14.2% |
| South Africa | 128 | 82.9 | 40.4 | 166 | 9.1% |
| Belgium | 98.5 | 65.3 | 87.0 | 125 | 8.3% |
| Yemen | 0.4 | 1.5 | 49.4 | 95.0 | 519.3% |
| Poland | 23.2 | 23.0 | 32.4 | 89.6 | 56.9% |
| Venezuela | 6.0 | 14.2 | 40.9 | 85.2 | 142.2% |
| Kuwait | 38.6 | 40.9 | 63.1 | 82.3 | 28.7% |
| Others | 1,211 | 1,149 | 1,547 | 2,021 | 18.6% |
| Total | 3,616 | 2,709 | 3,978 | 6,129 | 19.2% |
Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to India in 2022:
- United Arab Emirates (1408.3K tons)
- United States (1321.6K tons)
- United Kingdom (1024.1K tons)
- Singapore (428.7K tons)
- South Africa (316.4K tons)
- Netherlands (310.5K tons)
- Malaysia (247.6K tons)
- Canada (210.7K tons)
- Yemen (206.8K tons)
- Venezuela (186.9K tons)
- Poland (176.9K tons)
- Kuwait (142.8K tons)
- Belgium (142.7K tons)
Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India
In 2022, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels from India totaled 16K tons, growing by 11% against the previous year. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.4% 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 +53.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 45%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels surged to $16M in 2022. Overall, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +19.1% 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 +84.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 41%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 5.1 | 3.3 | 6.3 | 9.3 | 22.2% |
| Bhutan | 1.1 | 3.8 | 2.6 | 2.4 | 29.7% |
| China | N/A | N/A | N/A | 1.4 | 0% |
| Germany | 0.3 | N/A | 0.8 | 0.6 | 26.0% |
| Malaysia | 0.2 | 0.3 | 0.2 | 0.3 | 14.5% |
| United Arab Emirates | 0.1 | 0.1 | 0.9 | 0.3 | 44.2% |
| Singapore | 0.1 | 0.3 | 0.2 | 0.2 | 26.0% |
| Oman | 0.4 | N/A | 0.1 | 0.1 | -37.0% |
| Others | 2.2 | 0.9 | 1.3 | 1.4 | -14.0% |
| Total | 9.5 | 8.7 | 12.3 | 16.0 | 19.0% |
Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from India in 2022:
- Bhutan (7.9K tons)
- Sweden (2.3K tons)
- China (1.4K tons)
- United Arab Emirates (1.0K tons)
- Malaysia (0.9K tons)
- Singapore (0.6K tons)
- Germany (0.4K tons)
- Oman (0.1K tons)
442
This report provides an in-depth analysis of the market for metal remelting scrap ingots in India.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
442
This report provides an in-depth analysis of the market for metal remelting scrap ingots in India.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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