Published on 15 May 2024

In 2023, steel mills worldwide consumed 411.28 million tons of steel scrap. However, this marked a 12% decline compared to the previous year (2022).

Regional Trends:

1. China: China’s scrap consumption decreased to 213.68 million tons in 2023, representing a 0.8% decline. Despite this, the nation’s steel output experienced a marginal increase during the same period.
2. European Union: Scrap usage in the European Union declined by 5.7%, reaching 74.8 million tons.
3. Turkey: Turkey’s scrap consumption was 29 million tons, down 3.9% yearly.
4. Japan: Japan consumed 31.8 million tons of scrap, reflecting a 2.9% decrease.
5. India: India bucked the trend, consuming 29 million tons of scrap, an 11.5% increase yearly.
6. United States: Scrap consumption in the United States reached 56.8 million tons, showing a modest 0.4% growth.

Top Scrap Exporters:

1. Japan: Japan led the way as the top scrap exporter, shipping 6.93 million tons in 2023, representing a 9.8% increase year over year.
2. United States: Despite a 6.9% decline, the United States exported 16.26 million tons of scrap.
3. European Union: The EU exported 19.22 million tons, experiencing a 9.2% increase.