The demand for scrap far surpasses the supply. There are three categories of scrap – low-grade obsolete scrap, high-grade obsolete scrap, and prime scrap. The demand for prime scrap is significantly higher than the supply, while the supply of low-grade obsolete scrap is abundant. Additionally, The need for increased scrap consumption by major steel producers to support decarbonization. Also the different end-of-life timelines for various sources of scrap, such as automobiles, engineering and packaging, infrastructure, and building & construction. The data suggests that major steel producers need to increase scrap consumption to meet demand, particularly for prime scrap, and to support environmental sustainability initiatives.
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