What is happening in the global scrap steel market?

While international scrap trade was 71 million tons in 2021, it decreased by 6% to 67 million tons this year. Among the exporting countries, the US reached 17 million tons with a decrease of 4% and Japan reached 6 million tons with a decrease of 14%. The main reasons for this decrease are respectively;

• Decreased production due to the decrease in steel demand

• Currency depreciation

• High pressure and energy costs on electric arc furnaces (EAF)

• Limited exports of the euro zone

• Decreasing scrap collection in America

• Japan paying more attention to decarbonisation.