Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana - 2023

Contents:

1. Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana (FOB) - 2022
2. Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana (CIF) - 2022
3. Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana
4. Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana

Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana (FOB) - 2022

In 2022, the average export price for ferrous waste and scrap; of alloy steel (excluding stainless)s amounted to $669 per ton, with an increase of 41% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +6.8% per year.

Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana (CIF) - 2022

In 2022, the average import price for ferrous waste and scrap; of alloy steel (excluding stainless)s amounted to $1,390 per ton, rising by 194% against the previous year. Over the period under review, the import price recorded a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 787% against the previous year. Over the period under review, average import prices hit record highs at $1,510 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($1,942 per ton), while the price for Burkina Faso ($39 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+54.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana

In 2022, approx. 1.6K tons of ferrous waste and scrap; of alloy steel (excluding stainless)s were exported from Ghana; shrinking by -66.7% against the year before. In general, exports faced a precipitous slump. The most prominent rate of growth was recorded in 2021 when exports increased by 27%.

In value terms, exports of ferrous waste and scrap; of alloy steel (excluding stainless)s shrank notably to $1M in 2022. Over the period under review, exports showed a precipitous shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 50% against the previous year.

Top Export Markets for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) from Ghana in 2022:

1. India (1547.0 tons)

Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Ghana

In 2022, after two years of decline, there was significant decline in supplies from abroad of ferrous waste and scrap; of alloy steel (excluding stainless)s, when their volume decreased by -63.8% to 2.4K tons. Overall, imports, however, saw a significant expansion.

In value terms, imports of ferrous waste and scrap; of alloy steel (excluding stainless)s declined significantly to $584K in 2022. In general, imports, however, posted a significant expansion.

Top Suppliers of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) to Ghana in 2022:

1. Burkina Faso (1401.2 tons)
2. United States (991.1 tons)
3. China (38.3 tons)

Source: IndexBox Market Intelligence Platform