Global Steel Scrap Collection Projections Adjusted for 2050
The Japan Iron & Steel Federation revised its global steel scrap collection estimate for 2050 to 873 million metric tons. Key shifts include a reduction in China's scrap forecast and increased expected output from developing nations.
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The Japan Iron & Steel Federation's latest forecast indicates global steel scrap collection will total 873 million metric tons by 2050, a reduction of 31 million metric tons from earlier predictions. Developing nations, excluding China, are anticipated to contribute 370 million metric tons of scrap, while China's estimate has been lowered to 311 million metric tons.
It is projected that over 85% of scrap will be utilized by electric arc furnace steelmakers. In 2024, global scrap consumption declined by 1% to 460.6 million metric tons, despite a minimal decrease in total steel output of 0.7%. These adjustments highlight shifts in scrap generation dynamics that may impact supply chains and pricing.
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