The Indian Ministry of Steel released a draft steel scrap policy, inviting stakeholders to express their comments before July 14th.

The 2017 National Steel Policy (NSP 2017) was set to increase steel production capacity to 300 million tons by 2030, of which 35-40% was the capacity of electric arc furnaces. In addition, the policy also mentioned developing infrastructure that required scrap in order to achieve capacity targets.

The draft policy was aimed to improve India's domestic self-sufficient rate by producing high-quality ferrous scrap. In addition, other goals of the policy included improving the issues from the end of life vehicles (ELVs), reuse of scrap, transforming the current loose and fragmented waste processing into a systematic process, and so on.

At present, the India’s annual demand for scrap was 30 million tons, of which 5 million tons were imported. The automotive, construction and shipbreaking industries were the largest sources of the steel scrap. As the scrap production would be increased to three times the current production, scrap would become more important to India.