April 2018 | Steel Scrap and Metallics Forecaster
Indian cheap local DRI remains a challenge for scrap: Asia (Exc.China) Market Analysis
Apart from bold plans to boost steel capacity and production, Indian authorities have stated the country’s intention to depart from iron-based steelmaking in favor of more environment-friendly scrap-based.
As the Indian government decided not to eliminate the 2.50% duty imposed on imported ferrous scrap in the new financial year budget which has started in April, we at MBR have had a closer look at the countrys ferrous scrap and iron metallics markets and its perspectives. The National Steel Plan for India, released by the countrys Ministry of Steel last year, states ambitions to increase steelmaking capacity from just over 128 million tonnes currently to 300 million tonnes by FY2030-31 (April to March in India), with production aimed at 255 million tonnes per year on average. In particular,...
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