World Steel Recycling in Figures: January-June 2024 update

Global crude steel production totalled 954.6 million tonnes in the first half of 2024 and so was unchanged from January-June 2023, according to worldsteel. Data in our table show higher crude steel production in Africa, the EU-27, Other Europe, the Middle East and the CIS whereas decreases were registered by Asia/Oceania, as well as by North and South America.

Regionally, the biggest producer in the first six months of 2024 was Asia/Oceania although its total declined 0.4% year on year to 707.1 million tonnes. The year-on-year production decrease for North America was 3.3% to 53.9 million tonnes while the total for South America was 1% lower at 20.7 million tonnes.

Elsewhere, first-half 2024 production increases were as follows: Africa (+3.2% to 10.9 million tonnes); the EU-27 (+0.9% to 67.2 million tonnes); Other Europe (+10.7% to 22.4 million tonnes); the Middle East (+5.8% to 28.5 million tonnes); and the CIS (+0.1% to 44 million tonnes).

BIR’s use of the term “recycled steel”

As explained previously, the BIR Ferrous Division is now using the term “recycled steel” rather than “steel scrap” in order to resonate more effectively with the public and policy-makers when highlighting the importance of our material for global steelmaking.

From our own calculations and those of worldsteel, it can be concluded that some 630 million tonnes of recycled steel are used each year in global steel production, thereby preventing almost 950 million tonnes of CO₂ emissions while also saving energy and conserving natural resources. The term “recycled steel” also reinforces the importance of our material for “green” steelmaking.

China`s recycled steel usage climbs 5.4%

In the first half of 2024, recycled steel consumption in our key countries and regions climbed 4.6% year on year to 255.183 million tonnes despite a 0.2% decrease in their total crude steel production to 804.77 million tonnes.

For the majority of these countries and regions, recycled steel consumption was higher than in the first half of 2023. It is important to note that the recycled steel usage figure in our statistics represents verified data for 84.3% of global steelmaking in the first half of the current year.

China retained its position as the world’s largest user of recycled steel in increasing its consumption by 5.4% in the first half of 2024 to 122.54 million tonnes - despite a 1.1% decline in the country’s crude steel production to 530.570 million tonnes.

Better performances in recycled steel usage when compared to crude steel production were registered in January-June 2024 by the EU-27 (+8.8% to 43.609 million tonnes as against the aforementioned +0.9% for steel production to 67.2 million tonnes) and India (+14% to 17.8 million tonnes versus +7.4% for steel production to 74.184 million tonnes).

For Turkey, recycled steel consumption was 13.1% higher at 15.708 million tonnes in January-June this year as compared to +16.9% for the country’s steel production to 18.614 million tonnes.

Also in the first half of this year, recycled steel usage fell 1.8% in the USA to 27.6 million tonnes as compared to a decrease of 2.4% in the nation’s crude steel production to 39.960 million tonnes. For Japan, recycled steel consumption declined by 0.9% to 16.031 million tonnes versus a 2.6% dip in steel production to 42.698 million tonnes. South Korea also recorded negative figures, with recycled steel usage sliding 14.3% to 11.895 million tonnes whereas the drop in its crude steel production was a far smaller 6.4% to 31.520 million tonnes.

For the first half of 2024, the share of recycled steel usage in crude steel production was 23.1% for China, 24% for India, 37.5% for Japan, 37.7% for South Korea, 64.9% for the EU-27, 69.1% for the USA and 84.4% for Turkey.

For the first time in this statistical review, we report on consumption of recycled steel in  BOF and EAF steel production. Looking at our new table showing figures from the first half of this year, the major producing countries with a high proportion of EAF production involving intensive recycled steel usage were clearly Turkey on 94.2%, India on 80.4% and Japan on 73.1%. Despite the high share of BOF production in China (88.6%), the country is still the largest user of recycled steel because of its very high overall crude steel production.

Turkey’s overseas recycled steel purchases jump 3.6%

The first half of 2024 brought a 3.6% year-on-year increase in Turkey’s overseas recycled steel purchases to 9.985 million tonnes, thus maintaining the country’s position as the world’s foremost recycled steel importer. Its main suppliers were the USA (+6.6% to 2.122 million tonnes), the Netherlands (+20.5% to 1.312 million tonnes) and the UK (+50.9% to 1.106 million tonnes).

India was the world’s second-largest recycled steel importer in the first six months of 2024 (-26.1% year on year to 3.881 million tonnes), with its main suppliers being the USA (-39.1% to 0.7 million tonnes) and the UK (-47.6% to 0.437 million tonnes). Vietnam occupied third place in the recycled steel importer league table despite a decrease of 18.1% in the first half of 2024 to 2.642 million tonnes.

Lower year-on-year recycled steel imports were also recorded in January-June 2024 by the USA (-9% to 2.082 million tonnes), the EU-27 (-8.64% to 1.997 million tonnes), Taiwan (-8.6% to 1.992 million tonnes), Mexico (-20.2% to 1.210 million tonnes) and South Korea (-47.1% to 1.123 million tonnes).

By contrast, higher recycled steel imports were recorded by Pakistan in the first half of this year (+16.1% to 1.103 million tonnes).

EU-27 recycled steel exports down 18.7%

The EU-27 registered an 18.7% decline in its overseas recycled steel shipments to 7.359 million tonnes in the first six months of 2024 but retained its position as the world’s top exporter. The main buyers were Turkey (-17.6% to 4.648 million tonnes), Egypt (-7.5% to 0.594 million tonnes) and India (-38.6% to 0.450 million tonnes).

Despite a decline in recycled steel shipments in the first half of 2024 (-16.4% to 7.197 million tonnes), the USA remained the world’s second-largest recycled steel exporter. The biggest buyers of US material were Turkey (+4.9% to 2.142 million tonnes), Mexico (-46.2% to 1.152 million tonnes) and Bangladesh (+35.6% to 0.911 million tonnes).

Declines in recycled steel shipments were also recorded by Japan (-4.6% to 1.599 million tonnes), the UK (-7.8% to 1.567 million tonnes) and Canada (-4.5% to 1.161 million tonnes). By contrast, the first half of this year saw increases in recycled steel exports from Australia (+43.7% to 1.285 million tonnes), Hong Kong (+24.6% to 0.587 million tonnes), Mexico (+31.3% to 0.551 million tonnes) and Singapore (+19.4% to 0.424 million tonnes).

It can also be noted that US and EU-27 export prices for recycled steel followed a largely parallel course in January-June 2024.