World Steel in Figures 2024 Revealed Area-wise Ferrous Scrap Trade

SEATTLE (Scrap Monster): The recently published ‘World Steel in Figures-2024’ report by the World Steel Association (worldsteel) has revealed the details of global ferrous scrap trade by area during the previous year.

According to the report, the world trade in ferrous scrap totalled 99.1 million tonnes in 2023.

The Other Asia region emerged as the largest importer, with the region importing 33.9 million tonnes of ferrous scrap in 2023. The imports were mainly from North America and Japan. The second largest importing region was the EU-27 region, whose imports totalled 30.5 million tonnes, with bulk of these imports from the same region. In third place was Other Europe with imports of 20.4 million tonnes of ferrous scrap during the entire year 2023, the report said.

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The exports from the EU-27 region, the top exporter among all regions, totalled 44.7 million tonnes, out of which the extra regional exports amounted to 192 million tonnes. The second largest exporter was North America, whose yearly exports totalled 23 million tonnes. With exports of 9.4 million tonnes, Other Europe emerged as the third largest exporting region.

The exports (in million tonnes) by the other region were as follows: Russia and other CIS+ Ukraine (1.2), South America (2.6), Africa and Middle East (4.7), Japan (6.9), Other Asia (4.4) and Oceania (2.2).