The Japan Iron & Steel Federation projects global steel scrap collection will reach 873 million metric tons by 2050, down 31 million metric tons from its previous forecast. Developing nations, excluding China, are expected to generate 370 million metric tons of scrap, while China's outlook has been cut to 311 million metric tons. Over 85% of all scrap will feed electric arc furnace steelmakers. Global scrap consumption fell 1% in 2024 to 460.6 million metric tons, even as total steel output declined by only 0.7%.