Price for Ferrous Waste and Scrap; of Stainless Steel in Mexico - 2023

Price for Ferrous Waste and Scrap; of Stainless Steel in Mexico (FOB) - 2023

The average export price for ferrous waste and scrap; of stainless steels stood at $948 per ton in December 2023, which is down by -4% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 12% against the previous month. The export price peaked at $1,168 per ton in February 2023; however, from March 2023 to December 2023, 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 the United States.

From December 2022 to December 2023, the rate of growth in terms of prices for Spain amounted to +1.0% per month.

Price for Ferrous Waste and Scrap; of Stainless Steel in Mexico (CIF) - 2023

In August 2023, the average import price for ferrous waste and scrap; of stainless steels amounted to $5,579 per ton, remaining relatively unchanged against the previous month. Over the period under review, the import price posted a prominent increase. The import price peaked in August 2023.

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

From November 2022 to August 2023, the rate of growth in terms of prices for the United States amounted to +18.5% per month.

Exports of Ferrous Waste and Scrap; of Stainless Steel in Mexico

In 2022, approx. 126K tons of ferrous waste and scrap; of stainless steels were exported from Mexico; with an increase of 6.8% on the year before. Overall, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +12.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 40%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of ferrous waste and scrap; of stainless steels soared to $167M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +16.8% 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 +71.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 43%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

Export of Ferrous Waste and Scrap; of Stainless Steel in Mexico (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	59.5	58.6	111	143	33.9%
India	21.9	15.8	16.3	12.1	-17.9%
Spain	10.3	10.2	7.2	8.4	-6.6%
Taiwan (Chinese)	8.5	4.4	0.1	2.3	-35.3%
Netherlands	N/A	3.9	4.5	0.5	-64.2%
Others	4.9	4.9	1.2	1.3	-35.7%
Total	105	97.8	140	167	16.7%

Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from Mexico in 2022:

United States (109.0K tons)
India (9.3K tons)
Spain (4.6K tons)
Taiwan (Chinese) (1.8K tons)
Netherlands (0.2K tons)

Imports of Ferrous Waste and Scrap; of Stainless Steel in Mexico

In 2022, imports of ferrous waste and scrap; of stainless steels into Mexico fell dramatically to 5.6K tons, with a decrease of -86% against the previous year's figure. Overall, imports recorded a precipitous descent. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year. As a result, imports reached the peak of 40K tons, and then declined sharply in the following year.

In value terms, imports of ferrous waste and scrap; of stainless steels surged to $5.8M in 2022. In general, imports, however, showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 113%. Imports peaked in 2022 and are likely to see steady growth in the near future.