Driven by the COVID-19 epidemic, the global scrap metal market is currently facing challenges such as container shortages, delays in port arrivals and rising freight rates.
Under these conditions, the Indian Prime Minister called for an increase in the domestic supply of scrap to meet demand.
One of the policy directions to increase scrap production is the car scrappage plan, which will take effect at the end of this year. Following the launch of a 500,000 tpa recycling plant last year, since April this year, the business has expanded to shredded steel scrap.
The scrap steel produced by the car scrap policy can only meet 30-40% of the demand. However, due to the fact that transportation within the country takes a long time, and the quality of imported and domestic steel scrap is different, the mills prefer to import it in the face of frequent market fluctuations.
India tries to reduce dependence on scrap imports
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Azovpromstal® 16 April 2021 г. 09:44 |
