BIR: Recycled Steel Scrap Market Hit by Macroeconomic Instability

SEATTLE (Scrap Monster): The newly published Bureau of International Recycling (BIR) World Mirror on Ferrous Metals Quarterly Report indicates that the global recycled steel scrap market continued to stay under pressure from macroeconomic stability during the current year. This has negatively affected market sentiment and created unfavorable circumstances for the industry.

Widespread shortages were reported in the European region. Many shredders in the UK are only using about 60% of their full capacity. Sales prices in the Turkish market have decreased as a result of the notable drop in the value of the US dollar relative to the euro.

April and May saw a consistent decline in U.S. scrap prices. However, in June and July, the costs didn't alter. Outages caused the nation's steel production to decline. The Asian seaborne scrap market remained under pressure due to China's robust steel exports. In the meantime, due to robust construction activity, the demand for steel in GCC nations remained high.

During the first quarter of 2025, ferrous scrap consumption remained low in important global regions. The scrap usage recorded decline in China, the EU, the US, Japan, Turkey, and South Korea. In contrast, India's consumption increased, according to the BIR research.

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