Iron scrap
R65, R50 used cut rail second quality
Hms 1 and 2 / used rails
Hms 1 And 2 Used Rails
HMS 1 & 2 scrap, used rail scrap, aluminum scrap, copper scrap, battery scrap
Copper Millberry Scrap, Copper Cathode,
Copper Ore, Steel Scrap, Steel Rails, Steel Rails Scrap
Copper scrap, used rail, hms1&2, compressor scrap, used electric motor scrap, ethoxylated nonylphenol 9, medical gloves, automatic soap dispenser, handicrafts, cranberry gloves.
Oil & gas products, en590 diesel, jet fuel a1, d6 virgin fuel, petcoke etc, petroleum products, metal commodities like copper cathode & aluminium ingots
Various kinds of japanese foods and ingredients; japonica rice, bonito soup base, wasabi, fruit juice, frozen cake, yokan (gelled sweet bean paste), fresh vegetables, fruits, seafood products, etc.
Iron scrap is an important raw material for producing cast-iron products. An iron alloy called steel is the most-recycled ferrous metal in the world. In the list of various ferrous metals, steel scrap is one of the most common elements, used in multiple sectors such as automotive, manufacturing, and construction. These scraps come mainly from industrial processes and end-of-life products (containers, appliances, vehicles, etc). Other than this, this scrap residue is left during the production of iron and steel products. It is then collected, sorted, and processed to be recycled for the production of new metals and related products.
Due to the magnetic properties of iron scrap, sorting it from other metals becomes much easier. For further separating iron scraps from other materials, modern techniques like magnetic belts, flotation, and air currents are used. However, the recycling process differs, depending on the type of iron scrap. For instance, heavy iron goes through a more complex recycling process than light iron (washers, stoves, refrigerators). Heavy iron is first broken into two categories: HMS 1 and HMS 2, where the latter contains galvanised blackened steel and the former doesn't. Scrap coming from different sources has separate time frames to be recycled; some take a few decades while others take as much as 100 years. It all depends on the source from which iron scrap is coming. There are three other types of iron scraps, which can be distinguished based on their source:
1. New Iron Scrap: It is produced in the downstream industries during the fabrication of finished steel products. Examples of this iron scrap include cutting, stamping, etc.
2. Home Iron Scrap: This type of iron scrap is generated within a production facility or steel mill during the manufacturing process. These include iron leftovers from rolling or coating, mill trimmings, etc.
3. Old Iron Scrap: These iron scrap, which comes from post-consumer sources from appliances, automobiles, buildings, and others, are included in this category.
The metal production industry relies heavily on sourcing raw material through mining or recycling. However, they recline more towards recycling because of the environmental repercussions of mining. Hence, trading metal is a more sustainable way by repurposing and recycling scrap metals like iron scraps. Not just that, trading iron scraps can also create a lot of employment opportunities in the recycling facilities during collection, sorting, or processing of iron scraps. This becomes a contributing factor in boosting a country’s economy as well.
Some of the other factors driving the global trade of iron scrap are its cost-effectiveness in the metal industry. Scrap iron is available at a much cheaper rate in global trades than freshly mined metals. Therefore, the world is now returning to prioritizing recycling metals. The government officials in all the major countries (EU) are revising their policies, which focus more on recycling and reducing waste. They are trying to make use of as much iron scrap as possible with the help of global trade.
Concludingly, India in particular, has set a goal of doubling its crude steel capacity by 2030. The plan is to use EAF (Electric Arc Furnace) - based steelmaking to produce 50% of them. There is no way that their domestic iron scrap is not going to be enough to bring this vision into reality. It is projected that there will be a gap of up to 30 MT of iron and steel scraps, which can be filled by the global trade industry. This makes India a consistent market for export businesses of iron scrap in the coming years.
Did you know that steel scrap is one of the most demanded types of iron scrap? The consumption of scrap steel increased by 10% between 2017 and 2018. The US stood in the top position in exporting iron scrap from November 2023 to October 2024, with a record of exporting 262,950 shipments.
As any scrap material carries the potential of becoming hazardous waste if anything goes slightly wrong. So, the scrap iron buyers look to have a lot of requirements when it comes to the quality of iron scrap. Keeping those in mind and aligning your products as per those requirements goes a long way while you close a deal. Let’s explore those buyers’ requirements:
Iron Scrap Types & Other Related Categories in the Global Market
When you’ve a goal of introducing your exporting business to all the countries, there are a few other related items you can add to achieve this goal much faster. This lets you expand your reach and grow immensely without any limits. Here is what you can add to your exporting business:
The global iron scrap market plays a central role in the iron and steel manufacturing industry. The trade dynamics, environmental regulations & policies, and iron scrap demand in the global trade industry are continuously changing. Hence, understanding the iron scrap trade market size with reference to some important data is very crucial for the iron scrap exporters.
Global Market Size
Source: Market Research Future
Top Importing Countries for Iron Scrap (2024):
Source: Volza
Finding verified iron scrap buyers and importers globally is essential for closing deals faster and building reliable trade connections. With the right tools, platforms, and verification strategies, you can find various iron scrap importers from any of your desired countries. Those platforms are as discussed below:
1. B2B platforms
Sign up on B2B platforms, such as go4WorldBusiness. This is a perfect platform to connect with iron buyers from all over the world. Here, not only sellers, but various importers and buyers sign up in the search for suppliers. So, as an exporter of iron scrap, you will be getting a lot of buy leads in a day. All you’ve to do is just search for the specific type of iron scrap you’re selling, such as ferrous metal scrap buyers, cast iron scrap buyers, etc. You can sign up, upload pictures, chat with the buyers, and much more for absolutely free.
2. Trade exhibitions
Some of the trade fairs centered around iron scrap are MRAI International Indian Material Recycling Conference, BME Conclave, and others. These exhibitions are held with a motive of giving the traders a chance to bring their business into the international markets. So, whether you’re searching for a specific type of iron scrap or you’ve specifications regarding the buyer’s country, your search can end here.
3. Recycling centres
Selling your iron scrap domestically is an important step in building a strong foundation for your exporting business. When you think about “how can I find iron scrap buyers near me”, iron recycling centres are what must come to your mind. They always appreciate the good quality of iron scraps. In addition, you can also get some contacts of international buyers from them.
4. Social media sites
In this digitally overpowered world, it is necessary for you to have a separate account for your exporting business. You should be posting regularly about your business, combined with pictures, and sharing some behind-the-scenes of your company. This increases your visibility and leaves an impression that you’re actively working towards building meaningful trade connections.
1. What is the price of 1 kg iron scrap?
In India, scrap iron price per kg ranges from INR 25 to 45. It can vary depending on the quality and type of iron scrap, along with the location.
2. Is the iron scrap export business profitable?
Yes, the opportunities in the iron scrap business are expanding at a rapid rate. You can have a profit margin of around 10 to 30%.
3. Who are the biggest buyers of iron scrap metal?
The biggest buyers and importers of iron scrap metal are in countries like India, Pakistan, and Vietnam.
4. What is the HSN code for iron scrap?
7204 is the iron scrap HSN code.
5. What are some key documents needed for iron scrap export?
For exporting iron scrap, you will need a commercial invoice, bill of lading, IEC, certificate of origin, and others.
6. What are the latest trends in iron scrap export?
The expansion of EAFs (Electric Arc Furnaces) and the shift to green steel production is driving the increased demand for iron scrap export. However, as compared to last year, the iron scrap imports have witnessed a drop of 8%.
7. What are major uses of iron scrap?
Iron scrap is used in producing steel and casting, along with facilitating the production of copper through displacement reactions.
8. Where to find buyers for iron scrap?
You can find iron scrap buyers at B2B platforms, such as go4WorldBusiness. Other ways of finding reliable buyers include trade fairs (BME Conclave, MRAI International Indian Material Recycling Conference, and others) and even LinkedIn.
China is expected to witness its first decline in iron ore imports since 2022. It is projected that the total iron ore import value will stand at 1,192 MMT this year, with a drop of 45.8 MMT. (Full story: S&P Global)
