Global steel scrap collection is expected to reach 873 million tons by 2050, a 36% increase from 2020 levels despite a downward revision by the Japan Iron and Steel Federation (JISF).

Updated data shows regional variations, with scrap generation in developing countries rising to 370 million tons. In contrast, forecasts for China and developed economies dropped to 311 million tons and 193 million tons, respectively.

These adjustments are based on revised steel consumption outlooks, where expectations for developing markets rose to 923 million tons.

Therefore, the supply center for scrap will move toward developing nations. The steel industry, particularly electric arc furnace plants, will continue to consume over 85% of these global resources as mature markets experience a slowdown.