22
Mar
Shortfalls in Scrap Will Challenge the Steel IndustryKey TakeawaysThe global supply of carbon steel scrap is lagging demand growth. The shortage could significantly impact steel supplies and trade, ultimately affecting economic growth in both developed and developing nations. Private and public sector stakeholders should begin preparing for the shortfall by calculating the current availability of scrap and developing short- and long-range forecasts. By 2030, today’s 9 million metric ton steel scrap surplus will become a 15 million metric ton deficit.Steel companies must focus on locking in consistent supplies, perhaps by acquiring scrap yards and improving their manufacturing capabilities with artificial and…