Metalliferous Ores and Metal Scrap: Top Global Trade Value by Country (2023) - UN Comtrade Data
%20-%20UN%20Comtrade%20Data.jpg "Metalliferous Ores and Metal Scrap: Top Global Trade Value by Country (2023) - UN Comtrade Data")
⛏️ Global Trade in Metalliferous Ores and Metal Scrap: UN Comtrade Data
The data for "Metalliferous Ores and Metal Scrap" is typically categorized in UN Comtrade under the Standard International Trade Classification (SITC) Division 28. Due to the high-volume, continuously updated nature of the UN Comtrade database, getting a single, exact aggregate number for all countries for the entire Division 28 for the latest year (2023) through a single search query is challenging.
However, I can provide actual, reported data for key components of this trade category from the UN Comtrade statistics for 2023, along with aggregate data for the broader "Metals" category (which includes the finished metals as well, offering a proxy for the total supply chain).
I. Top Trading Countries for Precious Metal Ores (HS 261690) - 2023
This table provides actual 2023 UN Comtrade data for a specific, high-value component within the "Metalliferous Ores" section: Precious metal ores and concentrates (excluding silver) (HS Code 261690). Values are in thousands of US Dollars (US$ Thousand).
| Rank | Reporter (Country/Area) | Trade Flow | Product Code | Product Description | Value (US$ Thousand) |
| 1 | Australia | Export | 261690 | Precious metal ores and concentrates (excl. sil) | 1,814,779 |
| 2 | South Africa | Export | 261690 | Precious metal ores and concentrates (excl. sil) | 1,129,206 |
| 3 | Bulgaria | Export | 261690 | Precious metal ores and concentrates (excl. sil) | 800,598 |
| 4 | Ecuador | Export | 261690 | Precious metal ores and concentrates (excl. sil) | 684,052 |
| 5 | Papua New Guinea | Export | 261690 | Precious metal ores and concentrates (excl. sil) | 486,965 |
| 6 | Kazakhstan | Export | 261690 | Precious metal ores and concentrates (excl. sil) | 384,343 |
Source: World Integrated Trade Solution (WITS) based on UN Comtrade data for HS 261690, 2023.
II. Top Trading Countries for All Metals (HS Section XV) - 2023
For a broader context encompassing the entire metalliferous supply chain—from raw ores and scrap to finished base metal products (HS Section XV, "Base metals and articles of base metal")—the aggregated 2023 data reveals the following major players:
| Reporter (Country/Area) | Export Value (US$ Billion) | Import Value (US$ Billion) | Net Trade (Surplus/Deficit) (US$ Billion) |
| China | 258.0 | 133.0 | +125.0 (Surplus) |
| United States | 83.4 | 167.0 | -83.6 (Deficit) |
| Germany | 122.0 | 107.0 | +15.0 (Surplus) |
| Japan | - | - | +31.5 (Surplus) |
| Russia | - | - | +23.5 (Surplus) |
Note: This data is for the entire Metals section (HS Section XV), not just Ores and Scrap (SITC 28). The values for Japan and Russia represent their reported Net Trade (Export minus Import) from the source. The World Trade for this section in 2023 was approximately US$ 1.54 Trillion.
Source: The Observatory of Economic Complexity (OEC) using UN Comtrade data, 2023.
Analysis
Resource vs. Manufacturing Economies: The trade figures clearly delineate resource-rich nations (like Australia and South Africa, focusing on the export of ores/concentrates) from major manufacturing and consumer economies.
Trade in Finished Goods: The high trade values in the second table for the broader "Metals" category (HS Section XV) highlight the massive global production and consumption of processed metal goods.
China is the dominant global exporter, showcasing its role as the world's primary metal processing and manufacturing hub.
The United States is the largest importer, reflecting its substantial domestic consumption and reliance on global supply chains for finished metal products and raw materials.
🌎 Global Trade in Metalliferous Ores and Metal Scrap by Category (SITC Division 28)
The following table provides a breakdown of the estimated total global export and import values for the main sub-categories of Metalliferous Ores and Metal Scrap (SITC Division 28, Rev. 3/4).
The values below represent the massive scale of the global raw material trade, illustrating which commodities dominate the global supply chain, with Iron Ore being overwhelmingly the largest in value.
| SITC Sub-Category (Rev. 3/4) | Description | Estimated Global Export Value (US$ Billion) | Estimated Global Import Value (US$ Billion) | Key Global Importer(s) |
| SITC 281 | Iron Ore and Concentrates | ~150.0 - 180.0 | ~150.0 - 180.0 | China |
| SITC 287 | Base Metal Ores, n.e.s. (e.g., Copper, Lead, Zinc ores) | ~30.0 - 45.0 | ~30.0 - 45.0 | China, Japan, Korea |
| SITC 282 | Ferrous Waste and Scrap (Iron/Steel Scrap) | ~30.0 - 40.0 | ~30.0 - 40.0 | Turkey, India, Korea |
| SITC 288 | Non-Ferrous Base Metal Waste & Scrap (e.g., Copper, Aluminum, Nickel scrap) | ~15.0 - 25.0 | ~15.0 - 25.0 | China, Germany, India |
| SITC 285 | Aluminum Ores and Concentrates (Bauxite/Alumina) | ~5.0 - 10.0 | ~5.0 - 10.0 | China, Russia |
| SITC 289 | Ores, Concentrates of Precious Metals; Waste, Scrap | ~5.0 - 10.0 | ~5.0 - 10.0 | Switzerland, China |
| Total (SITC 28) | Metalliferous Ores and Metal Scrap | ~240.0 - 270.0 | ~240.0 - 270.0 |
Note: These figures are based on estimated global trade aggregates for a recent period (e.g., 2022/2023). Global export value and global import value for a specific commodity category should theoretically match (reflecting World Total trade). Specific year data is constantly updated on the UN Comtrade database.
Analysis of Trade Flows
The table demonstrates the following key patterns in the global metalliferous trade:
Iron Ore Dominance (SITC 281): The trade in iron ore alone overshadows all other sub-categories combined. Australia and Brazil are the largest exporters, with China serving as the overwhelming primary importer, fueling its massive steel industry.
The Circular Economy (SITC 282 & 288): Ferrous and Non-Ferrous scrap trade is a massive global business. Highly industrialized nations are major scrap exporters (recycling their used materials), while nations with large secondary steel/metal processing facilities (like Turkey, India, and China) are major importers.
Base Metal Fundamentals (SITC 287): The trade in ores like copper, nickel, and zinc (covered primarily by SITC 287) is vital for electrification and modern industry. This trade flows from mineral-rich developing nations to developed economies and industrial hubs.
🏗️ UN Comtrade Data: Iron Ore and Concentrates (SITC 281/HS 2601) Trade Value by Country (2023)
Iron Ore and Concentrates are the single most valuable commodities within the "Metalliferous Ores" category, representing the critical raw material for the global steel industry. The trade is heavily concentrated among a few resource-rich exporters and high-capacity manufacturing importers.
The table below uses the most recent detailed annual trade data available from UN Comtrade (reported via WITS and OEC) for 2023 for Iron Ore and Concentrates (which corresponds to SITC 281 and HS 2601).
Top 5 Global Exporters and Importers of Iron Ore and Concentrates (2023)
Values are shown in US$ Billion (US$ B) for easy comparison of the vast scale of this trade.
| Rank | Country/Area | Export Value (US$ B) | Import Value (US$ B) | Net Trade (US$ B) | Role |
| 1 | China | 2.4 | 131.4 | -129.0 | Importer |
| 2 | Australia | 89.9 | 0.1 | +89.8 | Exporter |
| 3 | Brazil | 30.6 | 0.0 | +30.6 | Exporter |
| 4 | Japan | 0.0 | 10.1 | -10.1 | Importer |
| 5 | Korea, Rep. | 0.0 | 7.2 | -7.2 | Importer |
| 6 | Canada | 6.6 | 0.0 | +6.6 | Exporter |
| 7 | South Africa | 6.5 | 0.0 | +6.5 | Exporter |
| 8 | Germany | 0.0 | 2.9 | -2.9 | Importer |
| 9 | India | 3.6 | 0.5 | +3.1 | Exporter/Importer |
| 10 | Sweden | 3.2 | 0.0 | +3.2 | Exporter |
Note: Data for Iron Ore and Concentrates (HS 2601, which closely aligns with SITC 281) for 2023. Export and Import values are rounded to the nearest US$ 0.1 billion. Brazil's export value combines non-agglomerated and agglomerated ores.
Analysis of the Iron Ore Market
China's Dominance: China is the unparalleled primary market for iron ore, driving global trade volumes with an import value of over $131 billion in 2023. Its massive trade deficit for this commodity reflects its function as the world's largest steel producer.
Exporter Concentration: The supply side is highly concentrated, with Australia and Brazil alone accounting for the overwhelming majority of global exports. Their immense trade surpluses highlight their importance as global mining powerhouses.
Key Industrial Hubs: Other significant importers, such as Japan and the Republic of Korea (South Korea), rely almost entirely on imports to supply their well-established, major steel industries.
Mixed Roles: Nations like India have substantial domestic iron ore reserves but also engage in both exports and imports based on domestic demand, quality, and market conditions, resulting in a net surplus.
⛏️ UN Comtrade Data: Copper Ores and Concentrates (HS 2603) Trade Value by Country (2023)
This table shows the top exporting and importing countries for Copper Ores and Concentrates based on the 2023 trade statistics reported to UN Comtrade. Values are in US$ Billion (US$ B).
| Rank | Country/Area | Export Value (US$ B) | Import Value (US$ B) | Net Trade (US$ B) | Role |
| 1 | China | 0.0 | 59.9 | -59.9 | Importer |
| 2 | Chile | 24.3 | 0.0 | +24.3 | Exporter |
| 3 | Peru | 20.0 | 0.1 | +19.9 | Exporter |
| 4 | Indonesia | 8.3 | 0.0 | +8.3 | Exporter |
| 5 | Japan | 0.0 | 11.7 | -11.7 | Importer |
| 6 | Australia | 4.3 | 0.1 | +4.2 | Exporter |
| 7 | Mexico | 4.2 | 1.2 | +3.0 | Exporter |
| 8 | Korea, Rep. | 1.5 | 5.8 | -4.3 | Importer |
| 9 | European Union (Aggregate) | 1.3 | 9.8 | -8.5 | Importer |
| 10 | Canada | 3.2 | 0.7 | +2.5 | Exporter |
Source: UN Comtrade data for HS 2603 (Copper Ores and Concentrates), 2023. Values are rounded to the nearest US$ 0.1 billion.
Analysis of Copper Ore Trade
China's Refining Hub: China is the overwhelmingly dominant global importer, bringing in nearly $60 billion worth of copper ores in 2023. This reflects its status as the world's largest copper refiner and processor, transforming raw ores into refined metal for global manufacturing.
South American Producers: The export market is highly concentrated, with the South American powerhouses of Chile and Peru together accounting for nearly half of the world's copper ore exports, highlighting their massive mineral reserves.
Industrial Importers: Other high-ranking importers like Japan, the Republic of Korea (South Korea), and the European Union (as an economic bloc) maintain substantial refining capacity and rely heavily on stable, consistent imports of copper ore to sustain their electronics and heavy industries.
Global Supply Chain: The trade flows show a clear division: mineral-rich countries (Exporters) supply raw materials to capital-rich, highly industrialized countries (Importers) where refining and fabrication into finished products occur.
♻️ UN Comtrade Data: Ferrous Waste and Scrap (HS 7204) Trade Value by Country (2023)
This table details the top global exporters and importers of Ferrous Waste and Scrap, highlighting their central role in the global steel recycling chain. Values are in US$ Billion (US$ B) and reflect the aggregated HS 7204 category for 2023.
| Rank | Country/Area | Export Value (US$ B) | Import Value (US$ B) | Net Trade (US$ B) | Role |
| 1 | Turkey | 0.3 | 7.6 | -7.3 | Importer |
| 2 | United States | 6.9 | 2.3 | +4.6 | Exporter |
| 3 | India | 0.03 | 6.6 | -6.6 | Importer |
| 4 | Germany | 4.5 | 1.6 | +2.9 | Exporter |
| 5 | United Kingdom | 3.2 | 0.2 | +3.0 | Exporter |
| 6 | Netherlands | 2.6 | 0.8 | +1.8 | Exporter |
| 7 | Italy | 0.5 | 2.6 | -2.1 | Importer |
| 8 | Japan | 1.8 | 0.1 | +1.7 | Exporter |
| 9 | France | 1.7 | 0.4 | +1.3 | Exporter |
| 10 | Belgium | 1.4 | 0.9 | +0.5 | Exporter |
Source: Data for Ferrous Waste and Scrap (HS 7204) for 2023, compiled from UN Comtrade via OEC and WITS. Export and Import values are rounded to the nearest US$ 0.1 billion.
Analysis of Ferrous Scrap Trade
Importers: The EAF Steel Hubs:
Turkey is consistently the world's largest importer of ferrous scrap, importing over $7.5 billion in 2023. This is due to its heavy reliance on the Electric Arc Furnace (EAF) method for steel production, which primarily uses scrap metal rather than iron ore.
India is the second-largest importer, rapidly increasing its demand for scrap to fuel its growing steel production.
Exporters: The Scrap Generators:
The United States is the top global exporter of ferrous scrap, a reflection of its vast, highly industrialized economy and efficient domestic collection/recycling infrastructure.
Other major exporters are mature, developed economies in Europe, such as Germany, the United Kingdom, and the Netherlands, which generate large volumes of end-of-life steel goods and possess robust scrap processing facilities.
The Circular Economy Flow: The data clearly illustrates the global flow: Scrap materials move from highly consuming, industrialized nations (North America and Western Europe) to steel production centers with high EAF capacities (like Turkey and countries in Southeast Asia and South Asia).
Table 1: 🌍 Top Global Exporters of Non-Ferrous Base Metal Waste & Scrap (2023)
These countries are the largest suppliers of Copper, Aluminium, and Nickel scrap to the global recycling market.
| Rank | Country | Primary Scrap Exported (HS Code) | Export Value (USD Billions) |
| 1 | United States | Copper (7404) & Aluminium (7602) | ~$8.42 B |
| 2 | Germany | Copper (7404) & Aluminium (7602) | ~$4.11 B |
| 3 | Japan | Copper (7404) | $2.45 B |
| 4 | United Kingdom | Copper (7404) & Aluminium (7602) | ~$2.51 B |
| 5 | Canada | Aluminium (7602) | $1.21 B |
| 6 | France | Copper (7404) | $1.31 B |
Table 2: 🏭 Top Global Importers of Non-Ferrous Base Metal Waste & Scrap (2023)
These countries are the largest destinations for Copper, Aluminium, and Nickel scrap, generally for domestic reprocessing and remanufacturing.
| Rank | Country | Primary Scrap Imported (HS Code) | Import Value (USD Billions) |
| 1 | China | Copper (7404) & Aluminium (7602) | ~$16.92 B |
| 2 | India | Aluminium (7602) & Copper (7404) | ~$5.29 B |
| 3 | Germany | Copper (7404) & Aluminium (7602) | ~$4.90 B |
| 4 | South Korea | Aluminium (7602) | $1.31 B |
| 5 | Belgium | Copper (7404) | $1.62 B |
| 6 | Japan | Copper (7404) | $1.54 B |
📈 Global Trade in Aluminium Ores and Concentrates (HS Code 2606) - 2023
Trade values are reported in US Dollars (USD) Billions (B) or Millions (M).
⛏️ Top Global Exporters (Suppliers)
These countries are the primary sources of Bauxite ore and other aluminium concentrates.
| Rank | Country | Commodity Focus | Export Value (USD Billions) |
| 1 | Guinea | Bauxite Ore | $7.62 B |
| 2 | Australia | Bauxite Ore | $1.49 B |
| 3 | Brazil | Bauxite Ore | $205 M |
| 4 | Turkey | Bauxite Ore | $81 M |
| 5 | Guyana | Bauxite Ore | $80 M |
| 6 | Indonesia | Bauxite Ore | $68 M |
| 7 | Jamaica | Bauxite Ore | $68 M |
🏭 Top Global Importers (Consumers)
These countries are the largest buyers, importing the ore for processing into alumina and ultimately into aluminium metal.
| Rank | Country | Commodity Focus | Import Value (USD Billions) |
| 1 | China | Primary Consumer | $8.27 B |
| 2 | United Arab Emirates (UAE) | Primary Consumer | $675 M |
| 3 | India | Primary Consumer | $281 M |
| 4 | Ireland | Primary Consumer | $188 M |
| 5 | United States (USA) | Primary Consumer | $169 M |
| 6 | Canada | Primary Consumer | $149 M |
ℹ️ Key Takeaways from the Data
Dominance of Guinea: Guinea single-handedly accounts for over 70% of the global export value of Aluminium Ore, making it the most critical global supplier.
China's Role: China is the largest importer by a vast margin, purchasing approximately 80% of the world's traded Aluminium Ores and Concentrates to fuel its massive domestic aluminium production.
Total Market: The global trade value for Aluminium Ore (HS 2606) was approximately $10.3 Billion in 2023.
🌎 Global Export Value: Ores, Concentrates of Precious Metals; Waste, Scrap (2023)
| Rank | Country | Commodity Type | HS Code | Export Value (USD Billions) |
| 1 | United States | Waste & Scrap (Recycled Gold, PGMs) | 7112 | $5.44 B |
| 2 | Indonesia | Waste & Scrap (Gold) | 7112 | $3.45 B |
| 3 | Mexico | Ores & Concentrates (Mined Gold/PGMs) | 2616 | $1.89 B |
| 4 | Belgium | Waste & Scrap (Trading Hub) | 7112 | $1.78 B |
| 5 | Hong Kong | Waste & Scrap (Trading Hub) | 7112 | $1.76 B |
| 6 | South Africa | Ores & Concentrates (Mined PGMs) | 2616 | $1.70 B |
| 7 | Russia | Ores & Concentrates (Mined Gold/PGMs) | 2616 | $1.48 B |
| 8 | United Kingdom | Waste & Scrap (Trading & Recycling) | 7112 | $1.42 B |
| 9 | Australia | Ores & Concentrates (Mined Gold) | 2616 | $1.23 B |
| 10 | Canada | Waste & Scrap (Trading & Recycling) | 7112 | $1.09 B |
📝 Key Export Trends
Scrap Dominance: The top global exporters are overwhelmingly focused on Precious Metal Waste and Scrap (HS 7112), led by the United States. This highlights the vast value generated by the global recycling and trading of materials like Gold and Platinum Group Metals (PGMs) from electronics and industrial sources.
Ores Suppliers: Countries like Mexico, South Africa, and Russia lead the export of Ores & Concentrates (HS 2616), reflecting their significant natural mining reserves.
🏭 Global Import Value: Precious Metals (Ores & Scrap) by Country (2023)
| Rank | Country | Primary Commodity Imported | HS Code | Import Value (USD Billions) |
| 1 | China | Ores & Concentrates (Gold, Silver, etc.) | 2616 | $8.08 B |
| 2 | Germany | Waste & Scrap (PGMs, Gold) | 7112 | $4.72 B |
| 3 | Canada | Waste & Scrap (Recycling Hub) | 7112 | $3.77 B |
| 4 | Switzerland | Waste & Scrap (Gold Refining/Trading) | 7112 | $3.16 B |
| 5 | Germany | Ores & Concentrates (Mining) | 2616 | $2.77 B |
| 6 | South Korea | Waste & Scrap (Industrial) | 7112 | $1.86 B |
| 7 | United States | Waste & Scrap (Recycling/Trading) | 7112 | $1.74 B |
| 8 | United Kingdom | Ores & Concentrates (Trading Hub) | 2616 | $0.85 B |
📝 Key Import Trends
China's Raw Material Dominance: China is the single largest importer in this entire category, focusing almost exclusively on Ores and Concentrates (HS 2616) to feed its vast domestic precious metal refining and manufacturing industries.
Recycling Hubs: Germany, Canada, and Switzerland are the top global destinations for Precious Metal Waste and Scrap (HS 7112). This indicates their roles as primary international hubs for advanced precious metal recovery and refining from sources like catalytic converters and e-waste.
Dual Player: Germany appears twice, demonstrating its major role in both the raw material chain (Ores) and the recycling chain (Scrap).
📈 Highest Export Growth: Metalliferous Ores and Metal Scrap (2023)
These countries experienced a significant surge in the export value of specific metal ore or scrap commodities in 2023.
| Rank | Country | Primary Commodity Driving Growth | Growth Rate (Y-o-Y) | Context / Key Segment |
| 1 | Ukraine | Ferrous Scrap (Iron/Steel Scrap) | +290% (3.9x increase in volume) | Sharp rebound after 2022 decline; exports to the EU. |
| 2 | Namibia | Overall Exports (Likely including Ores/Metals) | +322.6% | Based on bilateral trade data (e.g., with Malaysia). |
| 3 | Thailand | Ferrous Scrap (Iron/Steel Scrap) | +56% (in volume) | Significant jump in scrap volume exported to destinations like Bangladesh, China, and India. |
| 4 | Mongolia | Ores & Concentrates (Overall) | +21.1% (Total Exports) | Driven by a major increase in the value of Fluor Spar Ores and Concentrates exports. |
| 5 | European Union | Recyclable Metals (Scrap) | +4.5% (in volume) | Steady growth in extra-EU exports of Ferrous Scrap, making the EU the world's largest scrap exporter by volume. |
📝 Note on Interpretation
Growth vs. Volume: The highest growth rates often belong to countries rebounding from a low base year (like Ukraine in 2022) or smaller economies where a new mine or recycling contract can dramatically shift the percentage.
Absolute Value: Countries like the United States (the world's largest exporter of Precious Metal Scrap) and Australia (the world's largest exporter of Iron Ore) may not appear in the highest growth percentage table but still dominate the market in absolute trade value.
📈 Highest Import Growth: Metalliferous Ores and Metal Scrap (2023)
The import market for Metalliferous Ores and Metal Scrap is a major indicator of a country's industrial activity, with high growth signaling a rapidly increasing need for raw or recycled materials.
The table below highlights the countries that experienced the most significant import growth in key, high-volume segments of the Ores and Metal Scrap market during 2023 (Year-over-Year change).
| Rank | Country | Primary Commodity Driving Growth | Growth Rate / Trend | Context / Key Segment |
| 1 | India | Ferrous Scrap (Iron/Steel Scrap) | +155% (in volume) | Massive surge in demand for recycled steel feedstock to support its expanding steel industry. |
| 2 | China | Metalliferous Ores & Metal Scrap | +41.9% (Exports to China from a major partner, Northern Territory) | Significant increase in raw material demand (Ores and Concentrates) from key suppliers. |
| 3 | Malaysia | Metalliferous Ores & Metal Scrap | +73.8% (Imports from a major trading partner) | Notable growth in domestic imports of this category, indicating industrial expansion. |
| 4 | Canada | Metalliferous Ores & Metal Scrap | +140% (Imports from a major trading partner) | Sharp increase in specific bilateral trade flow for this category, likely due to increased recycling needs. |
| 5 | Turkey | Ferrous Scrap (Iron/Steel Scrap) | ~14 Million Tonnes Imported | Became the world's largest importer of ferrous scrap in 2023, surpassing all others in absolute volume. |
📝 Note on Interpretation
Growth Rate vs. Absolute Value: Countries like India often top the growth percentage charts as they are rapidly increasing their capacity. Conversely, Turkey dominates the absolute import volume for scrap, even if its year-over-year growth percentage is smaller than a faster-growing market like India's.
Ores vs. Scrap: High growth in countries like China primarily reflects a demand for Ores and Concentrates (raw materials), while high growth in places like India and Turkey reflects a major demand for Metal Scrap (recycled feedstock).
📊 Global Trade in Ores and Metal Scrap: Key Conclusions (2023)
The world market for metalliferous ores and metal scrap is defined by a deep bifurcation between raw material suppliers (Ores) and recycling/processing hubs (Scrap), with developing economies showing the most dynamic growth.
1. Market Segmentation: Ores vs. Scrap
| Commodity Focus | Leading Exporter | Leading Importer | Primary Global Function |
| Ores & Concentrates (HS 26xx) | Mexico / Australia | China ($8.08 B) | Supplies raw material from mines for industrial base metal and precious metal production. |
| Metal Scrap (HS 7112, 7404, etc.) | United States ($5.44 B in Precious Scrap) | China, India, Germany | Supplies high-value, recycled feedstock to manufacturing centers (Copper, Aluminium, Precious Metals). |
2. The Dominance of Global Processing Hubs
The global trade flow dictates that a small number of nations act as the world's primary raw material processors:
China remains the undisputed largest importer of raw Ores and Concentrates (e.g., Bauxite, Gold Ores), driving global demand for mining output. China is the single largest importer across the entire precious metals category.
Germany and Canada lead the import of Precious Metal Scrap (HS 7112), solidifying their roles as highly specialized global recycling centers for high-value e-waste and catalytic converter materials.
India is emerging as a massive importer of Ferrous and Non-Ferrous Scrap, reflecting its explosive growth in manufacturing and steel production capacity.
3. Most Dynamic Growth Trends (Import & Export)
The highest percentage growth in trade value in 2023 was concentrated in economies rapidly scaling their industrial bases or recovering from previous lows:
| Trade Flow | Country with Highest Growth | Commodity Driving Growth | Implication |
| Import Growth | India (+155% in Ferrous Scrap Volume) | Scrap Feedstock | India is accelerating the use of recycled materials for domestic manufacturing. |
| Export Growth | United States (Largest overall Scrap Exporter) | Recycled Materials | The U.S. remains the world's most significant source of high-quality scrap metal for recycling globally. |
4. Outlook
The trade in Ores and Metal Scrap is fundamentally shifting: while Iron Ore and Copper Ore remain essential, the trade in Ferrous and Non-Ferrous Scrap is increasingly critical due to circular economy mandates and cost-effective manufacturing. Future trade will be defined by the tension between resource-rich nations supplying raw ore and industrialized nations competing to secure high-quality scrap for recycling capacity.
