Spain's ferrous scrap consumption increased by 1.3% or 11,000 tonnes m-o-m to 873,000 tonnes in May. This figure represents a y-o-y decrease of 10%.
Five-month scrap use stood at 4.19 million tonnes in January-May 2023, accounting for 84.8% of total crude steel production. This was only 1% more than the 4.15 million tonnes consumed in the same period of the previous year.
The local steel industry produced nearly 1 million tonnes of crude steel in May, 2.6% above April's output of 980,000 tonnes but down 19% y-o-y.
Spain's five-month production stood at 4.94 million tonnes, down 7.8%, or 418,000 tonnes, compared with 5.36 million tonnes in January-May 2022.