Global ferrous scrap consumption dips by 2% y-o-y in CY'24; downtrend to continue in H1CY'25

Global scrap consumption falls on sluggish steel demand. Scrap demand rises in the EU, declines marginally in China. Indian mills record higher scrap intake amid surging steel production.

Morning Brief: Global ferrous scrap consumption inched down by 2% y-o-y in CY'24 to 603 million tonnes (mnt) compared to 616 mnt in CY'23, as per data maintained with BigMint. The drop comes amid a 0.9% fall in global crude steel production. Subdued demand for steel, falling prices of finished products,