Speaking about scrap consumption in major countries, China consumed 83.3 mnt of scrap against crude steel production of 803.83 mnt in 2015. USA bagged the second position with 56.5 mnt of scrap consumption against crude steel production of 78.85 mnt in 2015, followed by Japan which consumed 33.6 mnt of scrap against crude steel production of 78.85 mnt in the same year. India is estimated to have consumed over 15 mnt of scrap against 89.58 mnt of crude steel production last year, out of which over 6.71 mnt of the material was imported. According to Bureau of International Recycling (BIR) and German Steel Federation (WV Stahl), 555 mnt of scrap was consumed in the world during 2015, a decrease of 5.13% compared to 2014.
Among the top exporters, EU-28 recorded an 18.9% reduction in its steel scrap exports to 13.74 mnt. Turkey was the largest importer of EU-28 scrap at 8.07 mnt in 2015, 18.9% less than what Turkey imported in 2014 followed by India, Pakistan, Egypt, Morocco, Switzerland and China which imported 1.43 mnt, 0.99 mnt, 0.68 mnt, 0.47 mnt, 0.46 mnt and 0.34 mnt respectively. USA was the second largest exporter of steel scrap at 12.98 mnt with a downfall of 15.4% as compared to 2014 which was 16.95 mnt. Japan was the third largest exporter of scrap at 7.84 mnt growing 6.9% from 7.33mnt in 2014.
Largest importers of American scrap are Turkey, Taiwan, Mexico, India and Republic of Korea with imports of 3.96 mnt, 1.64 mnt, 1.15 mnt, 1.10 mnt and 1.08 mnt respectively. Republic of Korea, China, Vietnam and Taiwan were among the major importers of Japanese Scrap in 2015 with imports of 3.1 mnt, 1.91 mnt, 1.57 mnt and 0.92 mnt respectively.
India imported 1.43 mnt of its 6.71 mnt of scrap from EU-28, 1.1 mnt from USA, 0.38 mnt from Australia and 0.62 mnt from South Africa. There was an increase of 17.7% on steel scrap imports to India from 5.69 mnt in 2014 to 6.71 mnt in 2015. There is an assumption that scrap imports to India may increase in the coming times as the Steel Ministry has assured the metal recycling industry to look into their demand on removal of 5 per cent custom duty on metal scrap imports.
Source: Steel 360 Magazine June’16 Issue