Eastern Europe: Market for Remelting Scrap Ingots Of Iron Or Steel 2024

Market Size for Remelting Scrap Ingots Of Iron Or Steel in Eastern Europe

In 2022, the East European metal remelting scrap ingots market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption showed a mild slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Remelting Scrap Ingots Of Iron Or Steel in Eastern Europe

In value terms, metal remelting scrap ingots production fell to $X in 2022 estimated in export price. Overall, production saw a perceptible curtailment. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Remelting Scrap Ingots Of Iron Or Steel

Exports in Eastern Europe

In 2022, approx. X tons of remelting scrap ingots of iron or steel were exported in Eastern Europe; falling by X% against 2021. Overall, exports continue to indicate a pronounced descent. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then declined significantly in the following year.

In value terms, metal remelting scrap ingots exports shrank sharply to $X in 2022. Over the period under review, exports saw a noticeable curtailment. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

Russia was the major exporter of remelting scrap ingots of iron or steel in Eastern Europe, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Hungary (X tons) took the second position in the ranking, distantly followed by Poland (X tons). All these countries together took approx. X% share of total exports. Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Ukraine (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the largest metal remelting scrap ingots supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by Hungary ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

In Russia, metal remelting scrap ingots exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hungary (X% per year) and Poland (X% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Remelting Scrap Ingots Of Iron Or Steel

Imports in Eastern Europe

In 2022, supplies from abroad of remelting scrap ingots of iron or steel decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced sharply in the following year.

In value terms, metal remelting scrap ingots imports contracted notably to $X in 2022. Over the period under review, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then plummeted in the following year.

Imports by Country

Belarus represented the main importer of remelting scrap ingots of iron or steel in Eastern Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Hungary (X tons) ranks second in terms of the total imports with a X% share, followed by Latvia (X%).

Belarus was also the fastest-growing in terms of the remelting scrap ingots of iron or steel imports, with a CAGR of X% from 2012 to 2022. At the same time, Hungary (X%) and Latvia (X%) displayed positive paces of growth. Belarus (X p.p.) and Hungary (X p.p.) significantly strengthened its position in terms of the total imports, while Latvia saw its share reduced by X% from 2012 to 2022, respectively.

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

In Belarus, metal remelting scrap ingots imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Latvia (X% per year) and Hungary (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Latvia ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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