BIR World Mirror on Ferrous Metals- February 2025 Edition

The trade body noted that the new tariffs by the Trump administration has resulted in addition of another layer of uncertainty to already complex market.

SEATTLE (Scrap Monster): The Bureau of International Recycling (BIR) published the February 2025 edition of the World Mirror on Ferrous Metals.

The trade group pointed out that the Trump administration's latest tariffs have made the already complicated market even more unclear. According to the report, the recycling sector is still assessing the possible effects of the 25% tariffs imposed by the U.S. administration on steel imports.

According to BIR's analysis of the potential effects of tariffs, they may alter trade dynamics and upend current global supply chains, which would hinder the manufacturing of genuinely green steel. The supply of recycled ferrous metals in other areas is probably going to be impacted by the countries that used to sell steel to the United States switching to other markets.

According to data made public by the Chinese General Administration of Customs, the country's exported finished steel reached 110.72 million tonnes in 2024, a 22.7% increase from the year before. One of the most severely impacted nations is India, whose imports of rolled goods increased by more than 20% between April and December 2024, setting a six-year high. Because of the increase in Chinese steel exports, the domestic recycled steel market in Japan also remained poor.

Throughout Europe, the supply of recycled steel remained limited. Additionally, markets for recycled steel in other parts of Europe, especially Scandinavia, have been impacted by a decline in activity in the German automobile sector.

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