Steel Scrap Key to India’s Green Steel Transition, Say Experts at 12th Indian Steel Markets Conference

Steel scrap is emerging as the cornerstone of India’s green steel transition, according to industry leaders at the 12th Indian Steel Markets Conference, organised by mjunction services limited.

“Steel is one of the few materials that can be recycled infinitely without losing strength or quality, making it the backbone of both industrial growth and sustainability,” said Vinaya Varma, Managing Director, mjunction services limited, at the conference’s opening session. India currently consumes 42 million tonnes of scrap annually, with demand growing over 6% year-on-year and imports touching 9 million tonnes per year.

The two-day conference, themed “Indian Steel Value Chain – Recycle. Reshape. Innovate. Sustain.”, focused on decarbonising the steel industry and promoting circular economy practices.

Syed Jawed Ahmed, Executive Director, SAIL, emphasized that sustainability is now a “strategic priority,” as the company strengthens its capabilities to meet evolving green steel standards.

However, industry experts highlighted the challenge of sourcing sufficient scrap to meet rising demand, with Subhendu Bose, MD, Duferco Asia Pte Ltd, noting that India’s steel capacity is set for major expansion in the coming years.

According to Girishkumar Kadam, Senior Vice President, ICRA, government capital expenditure drives nearly 60% of India’s steel consumption, while a growing population fuels additional demand. Meanwhile, Sandeep Kumar, Vice President (Raw Materials), Tata Steel, warned that reliance on expensive imported coking coal and rising domestic iron ore prices could strain the industry.

Beyond sustainability, the conference addressed key policy shifts, trade dynamics, and the need for innovation across India’s steel value chain.

mjunction, a leader in organized scrap procurement for over two decades, showcased its AI-driven digital platform that connects over 250 GST-compliant suppliers across 120 locations, ensuring transparency, compliance, and efficiency in scrap sourcing. The company has delivered 1.2 million tonnes of scrap over the past three years to integrated steel plants across 15 states, managing logistics for more than 37,000 vehicles and 64 rail rakes.