Global consumption of ferrous scrap dipped by around 2%, to 325 million tonnes (mnt) in H1, 2024 (H1CY’24) from 330 mnt seen in H1CY’23, as per data maintained with BigMint. The decline was mainly observed in countries like Mexico (-17%), South Korea (-12%), Canada (-2%), the US (-2%), Japan (-2%), and Russia (-2%), followed by the decline in cumulative scrap consumption by the rest of the world.
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