Ferrous Scrap Usage by U.S. Steel Mills Recorded Notable Surge

SEATTLE (Scrap Monster): The 2019 Recycling Industry Yearbook published by the Washington-based Institute of Scrap Recycling Industries (ISRI) states that ferrous scrap continued to remain as the most recycled material not only in the U.S., but across the world in 2018.
According to the publication, the average ferrous scrap processed by the U.S. every single day is equivalent to what is required to build 25 Eiffel towers. The largest single source of ferrous scrap material in the U.S. is end-of-life vehicles. The other key sources include household appliances as well as industrial products such as buildings, railroad tracks, ships and farm equipment.

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The U.S. steel mills consumed approximately 103 million mt of iron and steel scrap in 2018. The demand and prices for ferrous scrap got big boost from enhanced requirement on account of 6.2% growth in domestic U.S. steel production.

The U.S. continued to be the world’s largest ferrous scrap exporter, with shipments to nearly 75 countries across the globe. The export volumes surged higher by 14% over the previous year to total 15.7 million mt in 2018. By value, the U.S. ferrous scrap exports amounted to $5.3 billion in 2018, significantly higher by 29% from 2017.