Scrap consumption in global steelmaking remained flat in 2024

As many countries around the globe shift towards lower-carbon steelmaking methods, the role of steel scrap in the production process is projected to grow substantially over the next several decades. The Boston Consulting Group predicts that global demand for scrap will increase by almost one third between now and 2030. The OECD expects the proportion of scrap used in global steel production to more than double by 2050.