Global ferrous scrap consumption declined by 5% y-o-y in CY’25 to 575.2 million tonnes (mnt) from 605.0 mnt in CY’24, reflecting weaker steel output and cautious mill buying. The modest fall comes amid a slight 2% dip in global crude steel production, which stood at 1,850 mnt in CY’25 from 1,886 mnt in CY’24. Production decreased across Europe, East Asia, and parts of the Americas, driven by weak downstream demand and excess finished steel supply.
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