Asia Becomes Largest Ferrous Scrap Importing Region in 2009

World ferrous scrap import totaled 87.8 million tonnes in 2009, decreasing by 18.5% from 2008, according to World Steel Association. Asian countries imported total 35.5 million tonnes of ferrous scrap, which increased by 22% year-on-year and represented the largest volume as a region. China increased the import volume largely. EU’s import decreased by 31.6% to 27.7 million tonnes and represented the secondly largest as a region though EU’s import was the largest in 2008. The import volume by Turkey, the world largest scrap importer, decreased by 10% year-on-year.

China’s ferrous scrap import expanded by 280.6% to 13.7 million tonnes in 2009 when domestic crude steel output increased and ferrous scrap market price lowered. Turkey represented the world largest importer of ferrous scrap in 2008 and 2009, though whose import decreased by 10% to 15.6 million tonnes along steel demand decline in Middle East.

World ferrous scrap export totaled 88 million tonnes in 2009, decreasing by 1.7% from 2008. EU was the largest exporting region in 2008 and 2009 though whose export decreased by 7.5% to 39.5 million tonnes.