NEW DELHI: India’s scrap imports are likely to double to around 10 million tonnes per annum as early as the year 2020, according to Sunil Barthwal, joint secretary of India’s steel ministry.
Addressing the BIR world recycling body’s recent ferrous division meeting in Prague this week, he said India’s steel industry was expected to boost its scrap consumption over the next 10 years from 32 million tonnes per annum to around 56 million tonnes.
More imports would be required because domestic scrap production would not be sufficient to cover this level of demand. However, he also indicated that the scrap import duty of 2.5% would remain in place.
According to Barthwal, the country’s steel sector was likely to produce more than 90 million tonnes of steel this year and would continue to tap into further ‘great potential’ at home given India’s current per-capita consumption of around 60 kg compared to the world average of approaching 220 kg.
Ferrous division board member Tom Bird of Mettalis Recycling in the UK had earlier confirmed to the same meeting that the Indian market – and also that of Pakistan – had been ‘very active’ over recent weeks, thus boosting scrap exporters. Figures for January-June 2015 show a year-on-year increase in India’s overseas steel scrap purchases of almost 30% to 3.168 million tonnes.
