ASEAN: Market for Remelting Scrap Ingots Of Iron Or Steel 2024

Market Size for Remelting Scrap Ingots Of Iron Or Steel in ASEAN

In 2022, the ASEAN metal remelting scrap ingots market was finally on the rise to reach $X after three years of decline. In general, consumption recorded a pronounced setback. Over the period under review, the market attained the maximum level 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 ASEAN

In value terms, metal remelting scrap ingots production reduced to $X in 2022 estimated in export price. In general, production saw a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of production peaked 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 ASEAN

In 2022, metal remelting scrap ingots exports in ASEAN declined significantly to X tons, falling by X% against 2021. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal remelting scrap ingots exports contracted to $X in 2022. Overall, exports saw a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Singapore (X tons) represented the key exporter of remelting scrap ingots of iron or steel in ASEAN, committing X% of total export.

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 ASEAN.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to X%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price, however, showed a deep slump. 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 reached the maximum 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 ASEAN

In 2022, after two years of growth, there was significant decline in supplies from abroad of remelting scrap ingots of iron or steel, when their volume decreased by X% to X tons. Overall, imports recorded a abrupt setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, metal remelting scrap ingots imports shrank rapidly to $X in 2022. In general, imports showed a deep contraction. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Singapore represented the largest importing country with an import of around X tons, which resulted at X% of total imports. 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 ASEAN, with a CAGR of X% from 2012-2022. By contrast, Vietnam (X%) illustrated a downward trend over the same period. While the share of Singapore (X p.p.), the Philippines (X p.p.) and Vietnam (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled X%. 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

The import price in ASEAN stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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