Global seaborne ferrous scrap trade dropped almost 6% to 67 millon tonnes (mnt) in calendar year 2022 compared to 71 mnt in the preceding year, as per SteelMint data. Importantly, all the exporting countries reported a y-o-y drop, including the top two suppliers – the United States and Japan. Leading scrap supplier US saw its volumes drop 4% to 17 mnt against nearly 18 mnt in 2021. Japan, the second-highest supplier in 2021 with 7 mnt, saw volumes chip away 14% to 6 mnt last calendar.
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