The latest edition of this established report reflects a slight decrease in world crude steel output in 2024 as well as a small drop in global recycled steel usage. At the same time, there were downturns last year in recycled steel exports and imports.
The following is a summary from BIR Ferrous Statistics Advisor Rolf Willeke of the main news and findings contained in this issue of “World Steel Recycling in Figures”, which includes a special overview of the three leading recycled steel importers and flow charts for the eight main recycled steel exporters. Altogether, the publication incorporates 60 graphs and tables.
Global crude steel production decreases by 0.8%
Global crude steel production totalled 1882.6 million tonnes last year for a small decrease of 0.8% over 2023, according to Worldsteel. Data reveal higher crude steel production in the EU-27, South America, Africa and the Middle East whereas decreases were registered in the CIS, North America, Asia and Oceania.
In more detail, year-on-year increases in crude steel production included: the EU-27 (+2.6% to 129.5 million tonnes); Other Europe (+3.4% to 43.2 million tonnes); South America (+0.6% to 41.9 million tonnes); Africa (+1.0% to 22.3 million tonnes); and the Middle East (+0.5% to 54.1 million tonnes). Production decreases, meanwhile, included: Asia (-1.0% to 1352.4 million tonnes); the CIS (-4.2% to 84.8 million tonnes); and Oceania (-10.5% to 5.4 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 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.
A small decrease in recycled steel usage
Recycled steel usage in our key countries and regions was 1.0% lower in 2024 at 460.607 million tonnes compared with a year-on-year decrease in their total crude steel production of 0.7% to 1548.1 million tonnes. In 2024, recycled steel usage headed lower in China, the USA, Japan and South Korea whereas increases were registered in the EU-27, India and Turkey.
It is important to note that the recycled steel usage figure in our statistics represents verified data for around 76% of global steelmaking in 2024.
China’s crude steel production fell by 1.7% in 2024 to 1005.1 million tonnes. Meanwhile, the country’s recycled steel usage dropped 1.9% year on year to 209.67 million tonnes, although the nation retained its position as the world’s largest user. A steeper percentage decline in recycled steel usage compared to crude steel production was also registered in 2024 by the USA (-3.0% to 55.3 million tonnes for recycled steel usage as against -2.4% for steel production to 79.5 million tonnes). In Japan, recycled steel usage slid 3.2% to 30.815 million tonnes while steel production dropped 3.4% to 84.0 million tonnes, whereas South Korea witnessed a 14.0% slump in recycled steel use to 22.507 million tonnes despite steel production slipping only 4.8% to 63.5 million tonnes.
On the positive side, the EU-27 increased its recycled steel use by 1.9% to 76.642 million tonnes during a year in which its crude steel production climbed 2.6% to 129.5 million tonnes. Also in 2024, recycled steel usage jumped 7.5% in Turkey to 31.273 million tonnes whereas the country’s crude steel production increase was 9.5% in totalling 36.9 million tonnes.
In 2024, the shares of recycled steel usage in crude steel production were 20.9% for China, 23.0% for India, 35.4% for South Korea, 36.7% for Japan, 59.2% for the EU-27 and 69.2% for the USA. Worthy of particular note was recycled steel’s 84.8% share of crude steel production in Turkey.
According to worldsteel, 1326.4 million tonnes of the world’s steel was produced in basic oxygen furnaces (BOFs) in 2024 versus 549.0 million tonnes in electric furnaces (EFs). Compared to 2023, this meant a decrease in BOF crude steel production and a small increase in EF production.
For green steelmaking, it is also important to follow global trends affecting direct reduced iron, use of which is estimated by worldsteel to have climbed more than 3% in 2024 to 144.1 million tonnes (based on 11 months of data).
Recycled steel use in EU-27 and Turkish iron/steel foundries
In this edition of “World Steel Recycling in Figures”, our analysis of recycled steel use in iron and steel foundries is limited to the EU-27 and Turkey because it was no longer possible to obtain global figures. This work has been conducted in co-operation with the German Foundry Association.
The data reveal that recycled steel usage by members of the European Foundry Federation totalled 14.480 million tonnes in 2024.
Turkey increases its overseas recycled steel purchases
Last year brought a 6.7% increase in Turkey’s overseas recycled steel purchases to 20.095 million tonnes, thus reinforcing the country’s long-held position as the world’s foremost recycled steel importer. Its main suppliers were the USA (+0.8% year on year to 4.533 million tonnes), the Netherlands (+27.8% to 2.766 million tonnes) and the UK (+72.8% to 2.217 million tonnes).
India remained the world’s second-largest recycled steel importer in 2024 (-23% to 8.46 million tonnes), with its main suppliers being the USA (-2% to 1.5 million tonnes) and the UK (-45% to 1 million tonnes).
Meanwhile, Vietnam occupied third place in the recycled steel importer league table last year with an almost unchanged total of 5.327 million tonnes; its main suppliers were Japan (+28.1% to 2.471 million tonnes) and Hong Kong (+19.6% to 0.543 million tonnes).
EU-27 still the world’s top recycled steel exporter
The EU-27 maintained its position as the world’s leading recycled steel exporter in 2024 despite an 11.4% decline to 17.024 million tonnes; the main buyers were Turkey (+1.7% to 10.927 million tonnes) and Egypt (-6.9% to 1.640 million tonnes). The EU-27’s largest exporter was the Netherlands (-19.1% to 3.757 million tonnes). In 2024, the EU-27’s internal recycled steel exports totalled 23.348 million tonnes for a year-on-year drop of 11.7%.
Despite a decline in recycled steel shipments out of the USA last year (-9% to 14.417 million tonnes), it remained the world’s second-largest recycled steel exporter; its main customers were Turkey (+8.9% to 4.429 million tonnes) and Mexico (-33.7% to 2.140 million tonnes).
Overseas shipments of recycled steel increased last year out of Australia (+16.1% to 2.460 million tonnes), Hong Kong (+15.7% to 1.205 million tonnes) and Mexico (+24.3% to 1.192 million tonnes). Conversely, the 2024 figures show recycled steel export declines from Japan (-5.6% to 6.537 million tonnes), the UK (-0.4% to 6.256 million tonnes) and Canada (-4.9% to 4.526 million tonnes).
Most of the world’s leading exporters are major net recycled steel exporters, including 12.24 million tonnes for the EU-27 and 9.98 million tonnes for the USA in 2024. It can also be noted that EU-27 and US export prices followed a largely parallel course last year.
