Price for Ferrous Waste and Scrap; of Stainless Steel in Thailand - 2024

Price for Ferrous Waste and Scrap; of Stainless Steel in Thailand (FOB) - 2024

In January 2024, the average export price for ferrous waste and scrap; of stainless steels amounted to $1,300 per ton, leveling off at the previous month. Overall, the export price continues to indicate a mild setback. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 1.6% against the previous month. As a result, the export price reached the peak level of $1,548 per ton. From April 2023 to January 2024, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($1,492 per ton), while the average price for exports to China ($201 per ton) was amongst the lowest.

From February 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to India (-1.2%), while the prices for the other major destinations experienced a decline.

Price for Ferrous Waste and Scrap; of Stainless Steel in Thailand (CIF) - 2024

The average import price for ferrous waste and scrap; of stainless steels stood at $981 per ton in January 2024, shrinking by -7.2% against the previous month. Over the period from February 2023 to January 2024, it increased at an average monthly rate of +1.0%. The pace of growth was the most pronounced in March 2023 an increase of 9.5% m-o-m. Over the period under review, average import prices attained the peak figure at $1,074 per ton in October 2023; however, from November 2023 to January 2024, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Pakistan ($1,366 per ton), while the price for the Philippines ($205 per ton) was amongst the lowest.

From February 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Mexico (+1.3%), while the prices for the other major suppliers experienced a decline.

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

In 2022, shipments abroad of ferrous waste and scrap; of stainless steels decreased by -5.5% to 179K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +5.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 20%. As a result, the exports attained the peak of 190K tons, and then shrank in the following year.

In value terms, exports of ferrous waste and scrap; of stainless steels rose to $330M in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 78% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in years to come.

Export of Ferrous Waste and Scrap; of Stainless Steel in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	77.9	83.7	155	166	28.7%
South Korea	59.3	69.7	138	131	30.2%
China	0.2	N/A	0.4	12.0	291.5%
Taiwan (Chinese)	20.4	16.4	18.0	9.1	-23.6%
Indonesia	12.4	N/A	5.2	5.9	-21.9%
Others	4.9	10.3	5.5	6.6	10.4%
Total	175	180	321	330	23.5%

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

India (99.4K tons)
South Korea (59.2K tons)
China (8.1K tons)
Taiwan (Chinese) (5.5K tons)
Indonesia (3.8K tons)

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

In 2022, imports of ferrous waste and scrap; of stainless steels into Thailand surged to 63K tons, jumping by 26% on 2021 figures. The total import volume increased at an average annual rate of +9.9% from 2019 to 2022; however, the trend pattern 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; of stainless steels rose significantly to $77M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 42%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Import of Ferrous Waste and Scrap; of Stainless Steel in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	6.0	7.2	8.5	11.4	23.9%
Malaysia	4.5	3.8	7.5	11.4	36.3%
Japan	8.7	6.1	7.6	8.8	0.4%
Indonesia	2.0	3.1	6.2	5.2	37.5%
Mexico	0.6	0.5	0.4	4.5	95.7%
Chile	2.0	1.6	1.3	4.4	30.1%
Hong Kong SAR	3.8	5.5	10.0	4.4	5.0%
South Korea	2.3	2.4	1.6	3.8	18.2%
Philippines	1.5	0.9	2.9	3.1	27.4%
New Zealand	0.8	0.7	1.8	2.9	53.6%
Colombia	3.2	4.6	2.8	2.5	-7.9%
Vietnam	4.0	2.7	7.9	2.2	-18.1%
United States	1.4	1.1	1.1	2.1	14.5%
Others	13.9	8.0	9.0	10.6	-8.6%
Total	54.6	48.4	68.6	77.3	12.3%