Steel scrap - major importing countries 2018

Turkey is by far the largest importer of steel scrap in the world, with almost 20.7 million metric tons of scrap steel imported in 2018. Steel is one of the most widely recycled materials in the world.

Benefits of recycling

Many regions incentivize recycling, as it improves energy efficiency and reduces pollution. Although the price of steel scrap is strongly influenced by the price of iron ore, it has become financially viable to bring electric arc furnaces on line and make new products from recycled steel. Canada was the country with the highest growth in steel scrap imports between 2017 and 2018, while Turkish steel scrap imports decreased by 1.5 percent. However, the Eurasian country was still the leading importer of steel scrap in the world.

Turkish prominence

Steel production is among Turkey’s largest industries, and the country is home to one of the largest steel mining companies in Europe. The steel industry in Turkey has recently come under pressure due to higher prices. Rising costs came as a result of steel tariffs and higher energy prices. It is expected that both contributors will continue to increase the cost of finished products in the market, and Turkish steel production is expected to drop through 2019.

Major importing countries of steel scrap in 2018, ranked by import volume

Import volume in thousand metric tons
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