Ferrous

It gives me great pleasure to welcome you to this Gothenburg Convention edition of the BIR Ferrous Division’s World Mirror.

The global recycled steel industry appeared to be stabilising, steel production was recovering in certain regions and sentiment had improved following a difficult 2025. However, the first quarter of 2026 quickly reminded us how exposed global markets remain to geopolitical instability, energy disruption, protectionism and economic uncertainty (...)

• Recycled steel usage 4.5% higher
• Drop in Turkey’s recycled steel imports
• EU-27 remains top exporter

• Economy more stable but still fragile
• Technical rebound in crude steel production
• Recycled steel market firm but under pressure

• Balance in market but no clear direction
• Turkey continues to act as price driver
• Increased container activity from India

• Impacts from increased fuel prices
• Fierce competition for shredder feed
• Market expected to remain firm in short to medium term

• Middle East conflict and monetary policy define market conditions
• USA emerges as dominant recycled steel supplier
• More than 30 deep-sea cargoes booked in late-March purchasing wave

• US new steel demand supporting recycled steel prices
• Low inventories boosting new steel prices and recycled steel
• Higher recycled steel export market supporting domestic pricing

• China’s crude steel production expected to decline in 2026
• Taiwan’s recycled steel imports fall sharply in first quarter
• More cautious approach from Bangladesh’s recycled steel importers

• Relatively lower reliance on imported recycled steel
• Currency depreciation intensifies cost pressures
• Structural outlook for recycled steel remains robust

• Robust performance by recycled steel market
• Recycled steel exports post five-year high
• Vietnam the leading importer of Japanese material

• PPS still actively setting domestic reference pricing
• Pressure from weak steel fundamentals and rand volatility
• AMSA and IDC continue talks, but no confirmed sale

• Shift from imported billet to recycled steel-based production
• Recycled steel import allocation mechanism in Saudi Arabia
• Freight rerouting and higher insurance costs