Global crude steel production fell by 2% to around 472 mnt in Q1CY’25 as compared to 480 mnt in the year-ago period, as per WSA data. This accounts for the slight decline in seaborne ferrous scrap trade during the period. Notably, crude steel production declined in all the major scrap consuming countries such as Turkiye, the US, South Korea, Vietnam and Taiwan. China, Bangladesh, and Turkiye, witnessed muted demand due to prolonged construction slowdowns and limited infrastructure spending.
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