India Ferrous Scrap Imports, Consumption To Rise
India’s ferrous scrap imports, which have declined over time, could rise over next few years with India targeting 300 million tons production by 2030.
Imports of ferrous scrap by India slumped 19.04 percent to 5.36 million tons in FY17 but steelmakers could be back importing the material in the coming years, according to industry sources.
Industry insiders feel in the next 5-6 years ferrous scrap imports may rise to 10 million tons.
One proposed method to close the shortfall between demand and supply is the establishment of a network of car shredding plants in the country.
MSTC and Indian conglomerate Mahindra Intertrade are working on producing first ever official vehicle shredder, which is expected to enter operations in 2018 with a capacity of 100,000-300,000 tons per annum.
It will generate the shredded-grade scrap which India currently has to import from locations such as Europe and the United States and is hoped to be a significant breakthrough in India’s quest to become self-sufficient in ferrous scrap.
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