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World’s crude steel production is roughly 1,800-1,900 million tonnes per year, of which around 70% of steel is produced using iron ore and coking coal and the remaining 30% is produced using scrap.

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According to SteelMint’s data, consumption volume was recorded at 620 million tonnes, a drop of around 7% year-on-year as compared to 654 million tonnes in 2021.

The key reason is the decline in crude steel production globally. The war between Russia and Ukraine had wide-ranging ramifications in the form of escalated energy prices. The energy crisis fuelled an inflation which, in turn, led to a drop in steel end-user demand in the European Union.

Overall, global crude steel production dropped 4% to 1,878 mnt in 2022 against 1,960 mnt in the year before. The share of the electric arc furnaces (EAFs) in steel-making dropped 5% y-o-y in 2022. Since EAFs are the major users of ferrous scrap, a drop in their production contributed majorly to the overall reduction in scrap consumption.

The world’s top crude steel producer consumed 225 million tonnes of ferrous scrap in 2022, down marginally by 1% year-on-year. The share of scrap consumption in China’s crude steel-making last year was 22%. The country’s crude steel production in 2022 stood at 1.01 billion tonnes. The next largest ferrous scrap consumer was the Europe Union. The European nations’ scrap consumption was recorded at 78 million tonnes, decreasing by 11% year-on-year. The EU’s scrap consumption share in its crude steel production in 2022 was 57%.

The third largest scrap consuming country was USA with 55 million tonnes, a decline of 7% compared to 2021. USA’s scrap consumption share in last year’s crude steel output was 68%. Following this was Turkiye which consumed 30 million tonnes of scrap in 2022 which was lower by 14% year-on-year. The share in country’s crude steel output was 85%. Japan also consumed 30 million tonnes of scrap in 2022, registering a 14% year-on-year drop. Its scrap usage share in crude steel output was 34%. Other major scrap consuming countries in the past year were Russia, India and South Korea at 28 mnt, 26 mnt and 25 mnt respectively.

Scrap is an important raw material in steelmaking. As many countries in the world are focusing and priortising decarbonisation, the usage of scrap for steelmaking is definitely going to increase in the future.

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