World's major steel scrap exporting markets based on volume 2021

With around 19.5 million metric tons exported, the European Union was the leading exporter of steel scraps in 2021. Its exports climbed by some 11 percent compared to 2020. The United States, which came second in the ranking, recorded an export volume of 17.9 million metric tons of steel scrap in that period.

Benefits of steel use

Steel is one of the most extensively applied materials in the construction sector and in the manufacture of transportation equipment. Increased demand from companies in these industries continues to drive prices higher. Therefore, steel is simply too lucrative to be allowed to go to waste. As with many metals, the commodity can be recycled and reused. In order to cut costs, the steel industry has taken to collecting scrap from waste streams, wrecked automobiles, dismantled buildings or other industrial sources, after which it is melted into new products. The use of recycled materials also provides environmental benefits such as energy savings and a reduced amount of materials in the municipal solid waste stream. In the United States, more than 90 percent of recycled metals are in fact steel.

The United States market

The United States was ranked as the second largest steel scrap exporter in 2020. The country had a steel scrap consumption of around 50 million metric tons that year, with its crude steel production reaching just under 72.7 million metric tons. The largest share of U.S. steel exports went to Turkey, which was almost double the U.S.’s steel scrap exports to Mexico. With steel scrap imports of about 19 million metric tons, Turkey was the leading steel scrap importing country worldwide.