Global ferrous scrap consumption in crude steel-making dropped around 7% to 610 million tonnes (mnt) in calendar year 2022 (CY22), as per SteelMint’s data. In 2021, the same was at 654 mnt. This dip is surprising against the backdrop of a world where steel mills are proactively looking to adopt green methods of manufacturing. The total share of ferrous scrap in crude steel-making was at 32% last calendar. The countries which are the top consumers of scrap are China with 225 mnt, EU (78 mnt) the US (55 mnt), and Turkey and Japan with 30 mnt each.
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