India turns net exporter of finished steel in FY26 Global scrap market faces tighter supply pressure Indian steelmakers urged to act on decarbonisation Royal Steel eyes global demand for structural steel
Global scrap markets are entering a more uncertain phase as tighter supply, changing trade flows and geopolitical tensions reshape raw material demand.At the SteelOrbis 2026 Spring Conference and 94th IREPAS Meeting in Amsterdam, raw material suppliers highlighted that global scrap availability remains limited, with no major supply surplus in sight. China’s slowdown in steel output has supported sentiment in other regions, while iron ore prices remain firm due to supply-side pressures.
India continues to stand out as a key growth market, backed by strong sponge iron production and flexible scrap buying based on freight and pricing conditions. In Europe, safeguard measures and regulations are increasing regional scrap demand, while high energy costs remain a concern.
The US market is also turning more inward as stronger domestic steel production boosts raw material consumption and reduces export appeal, especially for high-quality scrap. Turkey, meanwhile, continues to drive scrap demand, with prices rising near annual highs.With rising freight costs, tighter credit conditions and evolving EU waste shipment rules, the global scrap trade outlook remains cautious. Market direction will depend on energy prices, demand strength and geopolitical developments.
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