India’s Ministry of Steel has officially issued notification of a new steel scrap policy, assigning the specific objective to other ministries to ensure adequate supplies to replace the seven million mt per year of steel scrap imported into the country, a government official said on Thursday, November 7.
The policy states that, with 25 million mt of steel scrap generated in the domestic market and another 7 million mt shipped in, it is estimated that about 70 collection and dismantling centers will need to be constructed across the country to replace imports.
Efficient use of scrap in steel production is crucial for India as 35-45 percent of domestic steel production is envisaged from scrap-based steel mills towards a target of domestic steel production of 300 million mt a year by 2030, the policy statement said.
If scrap-based steel mills are to account for 35-45 percent of total steel production, the country needs to be ready to generate 70 million metric tons of domestic steel scrap annually by 2030, the statement said.