EUROFER Predicts Rapid Surge in Steel Sector Scrap Demand

SEATTLE (Scrap Monster): The European Steel Association (EUROFER) noted that the requirement of significantly more scrap for green steel projects to be implemented by the end of the decade will lead to significant increase in scrap demand by steel sector in the coming years.

According to Axel Eggert, Director General, EUROFER, ferrous scrap plays a key role in steel industry’s decarbonisation efforts. It is a valuable material, as it could be repeatedly recycled into new steel, thus achieving significant carbon reduction. The widespread use of scrap metal will help the EU region achieve its carbon emission targets, he added.

Incidentally, ferrous scrap is the most exported waste from the EU region. The exports had totalled 19.5 Mt in 2021, which accounted for almost 59% of all waste exports from the region.

The Association urged OECD countries to implement country level assessment mechanisms in addition to a stronger monitoring procedure. A proper audit system need to be introduced in each scrap exporting facility so as to ensure the quality of the waste exported to other countries.