Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103
Stainless Steel Scrap Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Stainless Steel Scrap in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Stainless Steel Scrap Price Trend for First Half of 2023
In 2023, the prices of stainless-steel scrap faced a difficult first quarter as the demand from the downstream industries was weak while the level of inventories rose consistently. Along with the domestic sector, the overseas sector also showcased feeble movements, and thus, with declined trading activities, the prices of stainless-steel scrap also nosedived.
However, the initial phase of the second quarter was favorable for the stainless-steel scrap market, especially in China, as it was backed by high costs of feedstock materials and high demand from the end-user sector. But this trajectory was short-lived, and with the influx of low-cost raw materials, the price trend of stainless-steel scrap again dipped in the latter half of the second quarter of 2023.
The price trend of stainless-steel scrap in the European countries was stable in the first quarter as the consistent demand for stainless-steel scrap was not countered by the limited supply. After a long phase of disruption caused by COVID-19, the rates of consumption returned to their normal levels, which further helped the market of stainless-steel scrap to remain afloat.
During the initial phase of the second quarter, the high number of sales from the automotive industries and the rise in prices of feedstock materials boosted the positive movement of stainless-steel scrap prices.
However, in the latter half, the market sentiments were adversely affected by poor economic growth, a rise in inflation, and a steep decline in demand from the downstream industries, causing the price trend of stainless-steel scrap to move southwards.
In North America, the prices of stainless-steel scrap remained positive in the first quarter as the construction industries showcased positive demand, and the high cost of raw materials pushed the trend in the positive zone. Similar to the European markets, the spike in prices in the early months of the second quarter caused by the expansion of the service industry and strong domestic demand was soon countered by rising rates of inflation and the collapse of the US economy.
According to Procurement Resource, the price trend of Stainless-Steel Scrap is expected to decline in the upcoming quarters as the global economic conditions do not seem suitable for the growth of the stainless-steel scrap market.
Procurement Resource provides latest prices of Stainless Steel Scrap. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Stainless steel scrap is the byproduct in the form of pieces or sheets. The stainless-steel scrap is highly corrosion resistant and also has high durability. It is collected and recycled to be melted down and used as a raw material in the production of new stainless-steel products, reducing the need for virgin stainless steel production and conserving resources while minimizing environmental impact.
|Stainless Steel Scrap
|Aerospace, Renewable energy, Environmental Engineering, Marine applications, Medical devices, Construction, Recycling
|Baosteel Group Corporation, EVRAZ North America, BlueScope Steel Ltd, China Steel Corporation, Commercial Metals Company, Hyundai Motor Company
|Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|US$ (Data can also be provided in local currency)
|Supplier Database Availability
|The report can be customized as per the requirements of the customer
|Post-Sale Analyst Support
|360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.
Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.
Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.
Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103