Indian Steel Scrap shortage likely to increase to 9.11 million tons by 2021-22
MUMBAI (Scrap Register): India's shortage of domestic scrap supply in the April 2017-March 2018 was at 6.85mn t, which will increase to 9.11 million tons in 2021-22.
Total demand for scrap in the April 2019-March 2020 is expected at 48.1 million tons, while domestic supply is expected to reach 40.19 million tons, India's steel ministry told parliament. The country has 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. Around 60% 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 35-40% of the country's total Steel production.
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.