BIR Ferrous Division Reported Notable Decline in Steel Scrap Usage

SEATTLE (Scrap Monster): The Bureau of International Recycling (BIR) Ferrous Division announced that total steel scrap use in key countries and regions registered decline by 10.5% in the initial six-month period of the current year. The consumption totalled 209.8 million tonnes, as compared with 243.5 million tonnes a year before. The scrap use reported year-on-year decline in all the countries and regions.

The largest steel scrap consumer during Jan-June ’20 was China. The steel scrap usage totalled 93.75 million tonnes, down by 7.3% from 101.13 million tonnes during the similar period in 2019. The consumption by the country surged higher by almost 26% in the second quarter of the year.

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Meantime, the steel scrap consumption for crude steel production dropped by over 13% in the European region to 39.8 million tonnes. The U.S. registered a year-on-year decline of 19% to total 20.2 million tonnes. Russian steel scrap usage dropped by 7.3% to 14.6 million tonnes, while that of Japan recorded 20% dip to 14.3 million tonnes.

The largest importer of steel scrap was Turkey. The country’s total purchases amounted to 9.009 million tonnes, higher by 7.8% when compared with the first six months of 2019. On the other hand, Korea recorded 34% decline in overseas purchases. The U.S., the EU and Russia too reported decline in overseas steel scrap purchases.