BIR Ferrous Session : EU-27 Leads Recycled Steel Exports with 4.5% Increase in H1 2023

The Ferrous Division's plenary session held on October 23, 2023, in Abu Dhabi shed light on the state of the global steel industry during the first half of 2023. Rolf Willeke, BIR Ferrous Statistics Advisor, presented key findings from the 14th edition of the World Steel Recycling in Figures.

In H1 2023, global crude steel production experienced a 1.1% decline, amounting to 943.9 million tonnes compared to the same period in 2022, as reported by worldsteel. Despite this decline, Asia, Africa, and the Middle East witnessed year-on-year increases in crude steel production. China continued to dominate, producing 535.6 million tonnes, claiming a 56.7% share of global production.

The data also revealed a decline in recycled steel consumption worldwide, particularly in China, where it dropped by 2.9%. Despite this decrease, China remained the world's largest user of recycled steel. The EU-27 and Japan showed comparatively lower percentage declines in recycled steel usage when compared to crude steel production. On the other hand, the USA, Turkey, and the Republic of Korea recorded higher percentage declines.

Turkey, as the world's leading recycled steel importer, faced a 22.9% reduction in overseas recycled steel purchases in H1 2023. However, it retained its position as the foremost recycled steel importer, with major suppliers including the USA, the Netherlands, and Belgium, the only supplier to experience growth compared to the previous year.

India emerged as the world's second-largest recycled steel importer in H1 2023, registering a substantial year-on-year increase of 105.5%. The USA ranked third, with an increase of 4.1%. Recycled steel imports also increased into Taiwan during the same period. Conversely, several regions, including the EU-27, the Republic of Korea, Mexico, Indonesia, and Canada, reported import declines.

The EU-27 maintained its position as the world's top recycled steel exporter, with a 4.5% increase in shipped volumes in H1 2023. Major buyers included Turkey, India, and Egypt. Japan and Canada saw increased recycled steel shipments during this period, while the USA remained the second-largest overseas shipper of recycled steel, despite a 9.2% export decline.

Export decreases were noted in H1 2023 in Mexico, Australia, Singapore, and South Africa. Notably, US and EU export prices for HMS 1 and 80/20 closely followed a parallel course, with prices reaching US$ 369 and US$ 378 per tonne in June 2023.