EU Ferrous Scrap Exports Decline Amidst Shifting Trade Dynamics
In a recent report, EU companies specializing in ferrous scrap operations experienced a notable downturn, with exports diminishing by 9.3% to a total of 15.56 million tons from January to November 2024, compared to the same period in 2023. This information is derived from GMK Center's calculations based on Eurostat data. During this time, over 60% of the exports were directed towards Turkey, totaling 9.88 million tons, marking a 4.8% increase year-on-year.
While Turkey continues to dominate as the largest recipient of EU ferrous scrap, the overall shift in trade patterns is significant. According to IndexBox data, the Netherlands stood as the leading exporter in the EU, with exports valued at USD 108.7 million in 2024. This was followed by Spain (USD 97.5 million), Poland (USD 89.4 million), France (USD 88.9 million), and Germany (USD 57.3 million). Interestingly, Spain also topped the import charts for the same category, with imports valued at USD 91.8 million, followed by the Netherlands (USD 71 million) and Germany (USD 55.5 million).
In November 2024 alone, the EU exported 1.62 million tons of ferrous scrap, a 3.4% decrease compared to November 2023. However, it's noteworthy that this figure represents a 7.1% increase from the same month a year earlier, making it the highest monthly export total since January 2024. Notably, shipments to Turkish consumers increased dramatically by 45.8% year-on-year during November.
The mixed trends observed in EU ferrous scrap exports reflect broader shifts in the global steel industry. The European steel sector benefits from a 2.6% increase in production, yet the broader global steel production has witnessed a decline of 0.9% to 1.84 billion tons. The dynamics of supply chains are also evolving, with EU regulatory initiatives possibly limiting access to European raw materials for third countries in the future. The shifts in trade dynamics underscore Turkey's growing role as a key partner, even as exports to traditional partners like India and Egypt see contractions.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
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2. EXECUTIVE SUMMARY
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
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4. MOST PROMISING PRODUCT
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5. MOST PROMISING SUPPLYING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
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The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2024
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10. PROFILES OF MAJOR PRODUCERS
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11. COUNTRY PROFILES
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- China
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption, By Country, 2018–2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Destination, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Consumption, By Country, 2024
- Market Volume Forecast to 2030
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- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024