Steel expansion plan bans export of scrap metal

Possible restrictions on scrap metal exports from the European Union as it seeks to reduce industrial 
emissions could make it difficult for India to grow its steel sector. Countries are recycling more scrap 
domestically to reduce its use of polluting feedstocks such as iron ore in the steelmaking process. A 
scrap shortage due to a relatively small consumer base is the only important import for India aiming 
to double its steel production capacity to 300 million tonnes by the end of the decade.
Sanjay Mehta, president of the Material Recycling Association of India, said in an interview in 
Mumbai, "Every country is going to save their scrap because of a circular economy being 
implemented at home,". He also added “It's going to be a very difficult situation for us" as new EU 
regulations are likely to tighten supply to India.”
Dhawal Shah partner at trading house Metco Ventures LLP said, "The US, Europe and the Middle East 
want to ensure that this efficient raw material does not flow easily,". And he also said. "India needs 
to act more aggressively to secure adequate supplies." 
According to Commerce Ministry data, India will import metal scrap worth about $12 billion in 2022, 
more than double what it was five years ago. which was used as feedstock in electric arc and 
induction furnaces.
 India's ferrous scrap metal consumption is estimated to jump 50% to 60 million tonnes by the end 
of the decade and imports will double to around 20 million tonnes.

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