Ferrous waste and scrap; remelting scrap ingots of iron or steel

7204 (Harmonized System 1992 for 4-digit)

About

Overview This page contains the latest trade data of Scrap Iron. In 2021, Scrap Iron were the world's 77th most traded product, with a total trade of $56.6B. Between 2020 and 2021 the exports of Scrap Iron grew by 70.7%, from $33.1B to $56.6B. Trade in Scrap Iron represent 0.27% of total world trade.

Scrap Iron are a part of Iron & steel. They include Ferrous waste or scrap, nes, Waste or scrap, of stainless steel, Waste from the mechanical working of iron or steel ne, Waste or scrap, of alloy steel, other than stainless, Waste or scrap, of cast iron, Waste or scrap, of tinned iron or steel, and Remelting scrap ingots, of iron or steel.

Exports In 2021 the top exporters of Scrap Iron  were United States ($7.8B), Germany ($5.42B), Netherlands ($4.17B), United Kingdom ($3.97B), and Japan ($3.77B).

Imports In 2021 the top importers of Scrap Iron were Turkey ($10.3B), India ($3.48B), Italy ($3.22B), Germany ($2.95B), and Belgium ($2.83B).

Tariffs In 2018 the average tariff for Scrap Iron was 2.64%, making it the 1179th lowest tariff using the HS4 product classification.

Ranking Scrap Iron ranks 716th in the Product Complexity Index (PCI).

Description Ferrous waste and scrap are used in the production of steel. They can be made from iron or steel, and can include slag, scale, and other waste from the production of iron or steel.

Latest Data

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The following visualization shows the latest trends on Scrap Iron. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Exporters and Importers

Top Origin (2021)United States$7.8B
Top Destination (2021)Turkey$10.3B

In 2021 Scrap Iron were the world's 77th most traded product (out of 1,217).

In 2021, the top exporters of Scrap Iron were United States ($7.8B), Germany ($5.42B), Netherlands ($4.17B), United Kingdom ($3.97B), and Japan ($3.77B).

In 2021, the top importers of Scrap Iron were Turkey ($10.3B), India ($3.48B), Italy ($3.22B), Germany ($2.95B), and Belgium ($2.83B).

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Exporters of Scrap Iron (2021)
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Importers of Scrap Iron (2021)
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Market Dynamics

Color
Top Origin Growth (2020 -  2021)United States$2.95B
Top Destination Growth (2020 -  2021)Turkey$4.28B

Between 2020 and 2021, the exports of Scrap Iron grew the fastest in United States ($2.95B), Germany ($2.11B), United Kingdom ($1.82B), France ($1.68B), and Netherlands ($1.6B).

Between 2020 and 2021, the fastest growing importers of Scrap Iron were Turkey ($4.28B), Italy ($1.73B), Germany ($1.44B), South Korea ($1.36B), and United States ($1.24B).

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Exporters of Scrap Iron (2020 - 2021)

Importers of Scrap Iron (2020 - 2021)

Market Concentration

Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Scrap Iron.

In 2021, market concentration measured using Shannon Entropy, was 5.05. This means that most of the exports of Scrap Iron are explained by 33 countries.

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Value of Exports in Scrap Iron

Net Trade

TOP NET EXPORTER (2021)United States$5.15B
TOP NET IMPORTER (2021)Turkey$9.96B

This map shows which countries export or import more of Scrap Iron. Each country is colored based on the difference in exports and imports of Scrap Iron during 2021.

In 2021, the countries that had a largest trade value in exports than in imports of Scrap Iron were United States ($5.15B), United Kingdom ($3.77B), Japan ($3.58B), France ($2.79B), and Germany ($2.46B).

In 2021, the countries that had a largest trade value in imports than in exports of Scrap Iron were Turkey ($9.96B), India ($3.45B), Italy ($2.75B), Vietnam ($2.45B), and South Korea ($2.43B).

Net Trade (2021)

Disaggregation

Value

In 2021, the world most traded Scrap Iron, disaggragated by their HS6 level were Ferrous waste or scrap, nes ($35.3B), Waste or scrap, of stainless steel ($9.54B), Waste or scrap, of alloy steel,... ($4.16B), Waste from the mechanical working of... ($3.96B), and Waste or scrap, of cast iron ($2.35B)

HS6 Disaggregation for Scrap Iron (2021)
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Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Scrap Iron.
It is possible to select the main countries that export or import Scrap Iron in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Scrap Iron by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2021)

Country by Relatedness

The following visualization shows the relatedness of Scrap Iron to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2021)

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