Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Metal Recycling News February 25, 2020 04:30:16 PM

MRAI Predicts Massive Uptick in Ferrous Scrap Demand

Paul Ploumis
ScrapMonster Author
The government is seen giving primary importance to boosting domestic scrap collection and processing.

MRAI Predicts Massive Uptick in Ferrous Scrap Demand

SEATTLE (Scrap Monster): The speakers at the Materials Recycling Association  of India (MRAI) 2020 summit held in Delhi expressed the hope that India’s ferrous scrap consumption is likely to remain robust in the near-term.

The government is seen giving primary importance to boosting domestic scrap collection and processing. The anticipated huge spending on major infrastructure projects should keep the demand for steel and ferrous scrap at higher levels. The demand will be met by imported as well as domestically procured scrap.

The country currently imports nearly 4 million metric tons of ferrous scrap every year. This is likely to double over the next 11-12 years, industry participants noted. The country will likely emerge as the second largest ferrous scrap importer in the world after Turkey.

The meeting focused on the need to need to boost domestic recycling rate in the country. The country lacks formalized scrap collectors, with informal scrap collectors having a clear domination. The situation could see a lot of improvement if the government recognizes informal scrap collectors by bringing them to the mainstream.

Also, the government should undertake a massive awareness drive to educate citizens on the value of scrap metal. As per industry participants, huge quantity of scrap metal ends up in waste bins and landfills.

×

Quick Search

Advanced Search