India drafts steel scrap policy with aim of reducing reliance on imports

India’s Ministry of Steel is seeking stakeholder feedback by July 14 on a draft steel scrap policy that aims to reduce the country's reliance on imports by establishing a network of recycling centers to collect and process ferrous scrap.

The policy framework aims to provide standard guidelines for collection, dismantling and shredding activities in an organized, safe and environmentally sound manner.  Electric arc furnaces (EAFs) and induction furnaces use steel scrap as the raw material for producing low-carbon steel, while basic oxygen furnaces (BOFs) use iron ore as their base raw material. Data from the Fastmarkets research team shows that BOF output rose 5% year on year in Jan-April to 16.04 million tonnes, while the use of EAFs and induction furnaces was down...

Published

Carrie Bone

July 09, 2019

12:47 GMT

London