In a remarkable surge, India has witnessed a staggering 158% growth in scrap imports, firmly establishing itself as a leading global recycler. As part of its sustainable development strategy, the nation has been actively embracing scrap materials from around the world, contributing to resource efficiency and environmental preservation.
India, the second largest steel producer globally, has witnessed a remarkable surge in scrap imports during the first six months of 2023. According to recent reports, the country's scrap imports reached a significant milestone, totaling 5.25 million tons in the said period. This figure represents a staggering 158% increase compared to the scrap imports recorded during the same period last year.
Notably, the volume of scrap imports from America, England, European Union, Canada, South Africa, Yemen, Brazil, Kuwait, and Malaysia all increased significantly in the mentioned period when compared to the same period last year. However, there was a slight decline in scrap imports from the United Arab Emirates (UAE), with the volume decreasing by 32%. Despite this decrease, the UAE still contributed 0.37 million tons of scrap to India during the first half of the year.