India’s domestic steel scrap shortage to deepen
The supply shortage of domestic steel scrap in India will expand by 33pc in the four years to the April 2021-March 2022 financial year, which may lead to more imports of the commodity.
India's shortage of domestic scrap supply in the April 2017-March 2018 was at 6.85mn t, which will increase to 9.11mn t in 2021-22, India's steel ministry told parliament. The country imported 5.42mn t of steel scrap in 2017-18 compared with 5.71mn t in 2016-17.
Major scrap suppliers to India are the UAE, the US, UK and South Africa.
Total demand for scrap in the April 2019-March 2020 is expected at 48.1mn t, while domestic supply is expected to reach 40.19mn t.
Around 60pc of India's installed steel capacity is electric arc furnace (EAF)- and induction furnace (IF)-based, which use scrap as a major raw material, although the output from these mills makes up only around 35-40pc of the country's total steel production.
Most EAF and IF producers are much smaller and less efficient compared with integrated steel producers, which use the blast furnace route to make steel.
The federal government's steel scrap policy is at a conceptual stage and will focus on how to best use the total amount of ferrous scrap arising in the country, and not focus on vehicle shredding alone, said junior steel minister Vishnu Deo Sai.
India's first vehicle shredding and recycling plant started operations last month in the northern city of Greater Noida, targeting to process scrap from around four million road-unworthy vehicles from the neighbouring city of Delhi.
The plant is operated by public-private joint-venture company Cero, which plans to add five more shredding facilities in India soon.
source: Argus Media
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