Global scrap consumption fell by 6.9% y/y in 1H2025

In January-June 2025, global scrap consumption fell by 6.9% compared to the same period in 2024, to 235.96 million tons. This represents 76% of total global steel production, according to the BIR.

The largest consumer, China, reduced its scrap consumption by 11.4% y/y to 109.01 million tons. In the EU, demand fell by 4.2% y/y to 39.4 million tons, in the US by 9.1% y/y to 26.7 million tons, in Japan by 6.7% y/y to 14.9 million tons, and in South Korea by 11.3% y/y, to 10.2 million tons.

At the same time, India showed a sharp increase in consumption – by 15.3% y/y, to 19.65 million tons. Turkey also increased its figure by 2.2% y/y, to 16.05 million tons. Turkey remains the world leader in terms of the share of scrap in steel production, at 87.7%.

In the foreign trade market, Turkey retained its position as the largest importer of scrap, purchasing 9.4 million tons (-5.8% y/y). The main suppliers remained the US (1.72 million tons; -18.8% y/y) and the Netherlands (1.5 million tons; +14.6% y/y). India retained its second position in imports – 4.58 million tons (+18% y/y), while Pakistan sharply increased its purchases by 181.6% y/y, to 3.1 million tons. Significant growth was also shown by the EU (+4.3% y/y, to 2.48 million tons), the US (+6.7% y/y, to 2.25 million tons), and Thailand (+285% y/y, to 2.2 million tons).

Among exporters, the EU remained the leader, shipping 8.3 million tons of scrap (-2.8% y-o-y). The main buyers were Turkey (+10.7% y/y, to 5.7 million tons) and Egypt (-47.1% y/y). The US reduced exports by 16.6% y/y, to 6 million tons, of which 1.85 million tons were delivered to Turkey. Japan, on the contrary, increased its supplies by 19.5% y-o-y, to 3.8 million tons, and Mexico – by 27.4% y-o-y, to 0.7 million tons.

Overall, the global scrap market in the first half of 2025 showed an overall decline in demand but remained highly active in certain regions. Turkey and India remain the main drivers, while China, the EU, and the US are reducing consumption.

As reported by GMK Center, global scrap consumption in 2024 decreased by 1% compared to 2023, to 460.6 million tons. This happened against the backdrop of a weaker decline in total steel production – by 0.7% y/y, to 1.55 billion tons. This trend indicates a certain decline in the role of scrap in the steel cycle in certain countries.