The BIR (Breau of International Recycling) Autumn Convention held in Bangkok, Thailand from October 27 to 28, 2025.
During the Stainless Steel & Special alloys Committee meeting on October 28, 2025, Mr. Joost van Keef of Oryx Stainless BV (Netherland) served as chairman. Experts from around the world shared their latest analyses and perspectives on the uncertainties facing the global stainless-steel market, as well as the broader shift from globalization toward regionalization.
At the opening, Vegas Yang, CEO of HSKU Raw Material Ltd (Taiwan) presented a summary of the “BIR World Mirror’ report.He noted that the market in China remains sluggish following the implementation tariffs, and that the global stainless steel market continues to face a challenging and uncertain environment.
He further explained that the prolonged impact of the tariff war has kept domestic demand sluggish and inventory levels high. However, the U.S. market remained healthy, as a 50% import tariff, with information showing domestic melt rates above 80% capacity. As for the special alloys segment, he noted that orders from the aerospace and industrial sectors have been secured for the next decade, indicating solid prospects for long-term growth.
In the Asian market analysis, developments in Taiwan, Japan, South Korea, China, Indonesia, and India were highlighted.
In Taiwan, rising demand driven by AI chip production has supported stainless steel consumption, while power shortages and semiconductor-focused policies continue to constrain manufacturing activity.
The Japanese market has experienced relatively stable stainless scrap prices, while South Korea maintained moderate demand levels throughout the third quarter.
In Indonesia, the competitiveness of nickel-based products remains a key strength, although the government is moving toward stricter regulatory oversight.
In the European market, it was noted that attention had turned to the Carbon Border Adjustment Mechanism (CBAM), which is set to take effect in January 2026.
Mr. Yang explained that CBAM, designed to reduce carbon emissions, is expected to have an overall positive impact on Europe’s scrap industry. However, he noted that uncertainties over its implementation and the potential rise in administrative burdens remain major concerns.
The session was followed by a presentation from Mr. Dhruv Goel, CEO of BigMint (India), a media company that recently entered into a partnership with IRuniverse.Mr. Goel presented the growth and transformation of India’s stainless steel industry, noting that the Indian government is intensifying efforts to protect domestic producers and encourage the use of alternative raw materials —such as nickel pig iron (NPI)— to reduce reliance on imported scrap.
He explained that while stainless steel scrap has maintained a robust average annual growth rate of 8.6%, production of nickel pig iron (NPI) and other alloying elements is expanding at an even faster pace.
India’s stainless steel consumption is projected to rise from 3kg per capita to 5.6–5.8 kg by 2030, driven by growing demand in the construction and transport sectors.However, Mr. Goel cautioned that the volume of stainless scrap generated domestically remains extremely limited, with little prospect of a significant increase in the foreseeable future.
After the presentations, the panel discussion began.
Emily Sanchez, Chief Economist at the Recycling Materials Association (ReMA), shared the U.S. perspective, noting that the global trade environment is likely to remain increasingly restrictive for some time.
She pointed out that trade liberalization will remain difficult to achieve in the medium term and that it will take time for markets to return to a more balanced and rational state.
Describing the current situation as “highly challenging,” she explained that export license requirements, export bans, and domestic processing incentives are intricately intertwined.
According to Ms.Sanchez, this complexity is exacerbated by policymakers’ limited understanding of the differences between recycled raw materials and primary resources, leading to a disconnect between policy intentions and actual outcomes.
She added that while the global momentum toward decarbonization and a circular economy serves as a tailwind for recycled stainless steel, the rise of resource nationalism in many countries is increasing the risk of raw material hoarding.
She warned that such trade restrictions could trigger retaliatory measures, potentially resulting in a fragmentation of international market.
Mahiar Patel, Managing Director of Cronimet (Singapore), discussed the impact of U.S. protectionist policies on the stainless steel industry.
He noted that his company has not yet observed any significant “Trump effect,” adding that many businesses are still assessing how these policies will be implemented and what their implications might be for stainless processors.
He further remarked that there could be short-term production delays, as expanding capacity takes time. However, he added that the U.S. market is benefiting considerably from these measures, which are expected to lead to a decline in stainless scrap exports from the United States.
As Cronimet also operates stainless processing facilities in the U.S., Mr. Patel pointed out that Far Eastern countries — which have traditionally imported large volumes of U.S.-origin scrap — may face supply constraints as a result.
After the session, Mr. Tanamachi, CEO of IRuniverse, spoke with Vegas Yang and Joost van Kleef, engaging in a lively discussion on the anti-dumping duties imposed on Asian stainless steel and the upcoming Carbon Border Adjustment Mechanism (CBAM) to be implemented in Europe.
The session as a whole highlighted the multi-layered challenges confronting the global stainless steel and special alloys market — including trade frictions, resource nationalism, decarbonization policies, and the accelerating shift toward regionalization.
A shared view among the speakers was that achieving a circular economy will require the preservation of free trade andcloser policy coordination across regions.
The atmosphere during the session, however, was not one of pessimism but rather one of resolve — a readiness to embrace change.
The word most frequently echoed by the delegates was “uncertainty.” Yet it carried less a tone of despair than the pragmatic determination of an industry searching for its next step.
As the recycling sector continues to evolve from a global to a regional framework, participants at this turning point were reminded once again of the critical importance of open dialogue in shaping the industry’s future.
(IRuniverse Midori Fushimi)
