Global Scrap Trading Outlook Analysis for Steel Sustainability

H. Lee, Il Sohn

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

Using the global scrap commodity trading data during the period between 1990 and 2013, the steel scrap network relationship between countries has been ascertained. By connecting the various steel scrap trading countries and forming relationship sub-groups, the scrap centrality of trading countries was identified from the Katz status index. Developed countries such as the USA and Germany had a high centrality for exporting steel scrap in the network, and Turkey and Korea had a high centrality for importing steel scrap in the network. The steel scrap utilization correlated well with the steel production according to Pearson’s model. Steel scrap forecasting based on the time-series analysis estimates scrap demand in 2018 to be approximately 750 MT with approximate steel production exceeding 1.75 BT. The forecasted steel scrap supply is likely to be sufficient for the steel industry, but centrality of some countries such as the Russian Federation and UK is lower than expected, and there may be some opportunities for these countries to expand its trade network for increased flexibility and utilization of scrap for higher steel sustainability.

Original languageEnglish
Pages (from-to)39-52
Number of pages14
JournalJournal of Sustainable Metallurgy
Volume1
Issue number1
DOIs
Publication statusPublished - 2015 Mar 1

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Steel scrap
Steel
Sustainable development
steel
sustainability
Time series analysis
Iron and steel industry
analysis
time series analysis
commodity

All Science Journal Classification (ASJC) codes

  • Environmental Science (miscellaneous)
  • Mechanics of Materials
  • Metals and Alloys

Cite this

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Global Scrap Trading Outlook Analysis for Steel Sustainability. / Lee, H.; Sohn, Il.

In: Journal of Sustainable Metallurgy, Vol. 1, No. 1, 01.03.2015, p. 39-52.

Research output: Contribution to journalArticle

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