Eurostat: EU Ferrous Scrap Exports Tumbled

The EU scrap exports had recorded 7% year-on-year jump in 2023, after registering a fall in 2022 over the prior year.

SEATTLE (Scrap Monster): During the first eleven months of the previous year, the EU region's exports of ferrous scrap to third nations decreased. Between January and November of 2024, exports totaled 15.56 million tons, a 9.3% decrease from the same period in 2023.

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According to Eurostat data, the primary export destination of EU scrap was Turkey, which received nearly 60% of the total EU exports. The exports to Turkey recorded year-on-year increase by 4.8% to total 9.88 million tons. The second largest importer was Egypt, which received 1.545 million tons of scrap from the EU countries. The exports to Egypt witnessed marginal decline by 2.6% year-on-year. The other major importers were India and Pakistan, which imported 976,000 tons and 580,000 tons respectively. These four countries together accounted for approximately 83.4% of the EU scrap exports.

The EU exported 1.62 million tons of ferrous scrap in November 2024 alone. Compared to the same month last year, this is a 3.4% decrease. The prior year's biggest shipments occurred in November. Turkey was the biggest importer of EU scrap, with Egypt, Pakistan, and India coming in second and third.

After showing a decline in 2022 compared to 2023, EU scrap exports saw a 7% year-over-year increase in 2023.