BIR Highlights Price Corrections in Global Recycled Steel Market Amid Slowing Demand

The hot rolled coil prices recorded a sharp dip in prices, which in turn resulted in price cuts on the key busheling grade in September this year, the report said.

SEATTLE (Scrap Monster): The Bureau of International Recycling (BIR) Ferrous Division has released the latest edition of its World Mirror on Ferrous Metals, offering an updated overview of global recycled steel market dynamics.

According to the report, U.S. recycled steel prices reached record highs during the summer of 2025. However, the market has since shifted sharply, with new steel sales weakening amid a slowing economy and declining consumer confidence. The drop in hot rolled coil (HRC) prices led to significant price cuts for key busheling grades in September.

In Europe, the report highlighted that order volumes from Germany’s construction sector—a major consumer of steel—have turned sluggish, weighing on recycled steel demand. Prices, which had stabilized in August, have since declined once again.

The Asian seaborne recycled steel market continues to face strong downward pressure, largely due to China’s high steel export levels, which were 10% higher year-on-year in the first eight months of 2025. Meanwhile, South Korea’s steel industry is being squeezed by domestic market weakness and U.S. tariff impacts.

In South Asia, India’s safeguard duties and regulatory measures to support domestic production have led to lower steel imports, while Bangladesh has maintained steady demand for imported recycled steel. In contrast, Japan’s domestic market remained mostly flat, reflecting ongoing challenges in consumption and export competitiveness.

Overall, the BIR report underscores a volatile global steel recycling landscape, with regional disparities shaped by economic conditions, trade policies, and construction sector performance.

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