News Room - Steel Industry

Posted on 03 Dec 2024

India's scrap consumption up 8% in Jan-Oct'24 as green steel initiatives gain ground

  • Share of IF-EAF mills rises versus BF route
  • Domestic scrap consumption pulls up volume
  • Imported material becoming scarce & costlier

Morning Brief: India's ferrous scrap consumption rose around 8% in the first 10 months of 2024 (10MCY'24) to over 28 million tonnes (mnt) against 26 mnt seen in the corresponding period last year (CPLY).

This growth marks a shift to greener, more efficient, and cost-effective steelmaking practices, keeping in mind future emission goals.

The overall increase in this period under review was propelled by a rise in domestic scrap consumpt

 

Source:BigMint