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

Source: BigMint Apr 08, 2025 08:30

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,