As the global focus on carbon neutrality grows, the steel industry is scrambling to take action. Many steelmakers are choosing to invest in electric furnaces or increase the proportion of scrap in their blast furnaces in response to these changes. There's no doubt that scrap is a blue ocean market, but that doesn't mean everyone involved is making money. Due to the way scrap is structured, it is more likely that the supplier will not make money as the volume increases, and the main reason is the lack of trust. When the price goes up, they have to adjust the volume, and when the price goes down, the steelmaker reduces the volume, and the inventory valuation loss and financial burden incurred in this process are borne by the supplier. In the future, the scrap market will undergo many changes, such as ▲ rising labor costs due to the shortage of electric furnace engineers ▲ the entry of large companies and integrated companies into the scrap market ▲ the possibility of Chinese capital entering the Korean market (10 won less) ▲ the fundization of scrap products ▲ advances in processing and inspection (AI) ▲ and the weaponization of scrap by scrap exporting countries. In the end, only those with deep pockets, networks, and information will survive. In the future, scrap will be financialized and branded. This is a crisis for some, but an opportunity for others. As long as there is no obvious substitute for iron, scrap is a valuable urban resource. It is also important to realize that establishing a stable supply and delivery system for scrap will not only improve the quality of steel products in the long run, but also benefit the public.