EU Scrap Exports Decline by 10.8% in 2024, with Turkey Increasing Purchases

Steel Scrap

Shifting Trade Patterns and Regional Demand Changes

In 2024, EU ferrous scrap exports to third countries fell by 10.8% compared to 2023, totaling 16.72 million tons, according to GMK Center’s analysis of Eurostat data. While overall exports declined, Turkey—the largest importer of EU scrap—continued to increase its purchases.

Over 60% of total EU scrap exports in 2024 were directed to Turkey, amounting to 10.62 million tons, marking a 1.7% year-on-year increase. Other key destinations included:

• Egypt: 1.68 million tons (+1.2% y/y)
• India: 1.09 million tons (-51.3% y/y)
• Pakistan: 654.34 thousand tons (-17.5% y/y)

These four countries accounted for 84% of total EU scrap exports, underscoring their significant role in the trade landscape.

In December 2024, EU ferrous scrap exports fell to 1.36 million tons, a 14.4% drop from December 2023 and a 20% month-over-month decline. Key figures for November 2024 shipments include:

• Turkey: 955.3 thousand tons (-6.1% y/y; -17.7% m/m)
• India: 119.59 thousand tons (-35.7% y/y; -9.8% m/m)
• Egypt: 95.25 thousand tons (+20% y/y; -43.8% m/m)
• Pakistan: 74.14 thousand tons (-10.3% y/y; +19.9% m/m)

EU Regulations and Market Adjustments Influence Exports

The decline in exports to India and Pakistan suggests changing regional demand and potential disruptions in supply chains. Meanwhile, Turkey’s increased imports highlight its recovering steel sector. Additionally, EU regulatory measures aimed at preserving scrap for domestic use could further limit access to European raw materials for third countries.

In contrast, EU scrap exports in 2023 had increased by 7% from 2022, reaching 18.53 million tons. This followed a 10% decline in 2022, marking the first drop after over six years of growth.

EU steel production grew by 2.6% y/y in 2024, reaching 129.5 million tons, while global steel output declined by 0.9% to 1.84 billion tons, reflecting a shifting global steel market.