Global scrap consumption decreased 1% in 2024 compared to 2023, to 460.6 million tons, according to data from the Bureau of International Recycling (BIR), which covers about 76% of global steel production.
This decline comes amid a slight decline in total global steel production of 0.7% year-on-year, to 1.55 billion tons, indicating a relative decline in the role of scrap in the steel production cycle in some countries.
The largest decline in scrap consumption was recorded in South Korea, down 14% year-on-year to 22.5 million tons, despite steel production there declining by only 4.8%. Scrap consumption also declined in the United States by 3% (55.3 million tons), Japan by 3.2% (30.8 million tons), and China by 1.9% (209.7 million tons), despite a limited decline in steel production.
In contrast, scrap consumption in the European Union increased by 1.9% to 76.6 million tons. India and Turkey also performed positively, with scrap consumption in Turkey increasing by 7.5% year-on-year to 31.3 million tons.
Turkey recorded the highest dependence on scrap in steel production among major countries, at 84.8%. For comparison, this figure was 69.2% in the United States, 59.2% in the European Union, and only 20.9% in China.
Turkey also strengthened its position as the world’s largest scrap importer, importing 20.1 million tons of raw materials, a 6.7% increase compared to the previous year. The United States, the Netherlands, and the United Kingdom were the top suppliers.
On the other hand, the European Union maintained its position as the largest scrap exporter, despite an 11.4% decline in exports to 17 million tons. The United States came in second with exports of 14.4 million tons, a 9% decrease.
This slight decline in global scrap consumption, despite stable steel production, indicates a shift in the balance between primary and secondary raw materials. However, the significant growth in scrap consumption in Turkey, the European Union, and India reflects a growing trend toward decarbonization and the promotion of the circular economy in some regions.
Global scrap consumption declined by 12% in 2023 compared to 2022, to 411.28 million tons, while steel production rose by 0.2% to 1.55 billion tons. Scrap consumption declined in most major countries and regions in 2023, with the exception of the United States and India.
