News and Events

Strong crude steel production growth supports imports Softer prices in South Asia create buying opportunities Japan records higher scrap export volumes; US retains top exporter position Morning Brief: India's ferrous scrap imports rose slightly by 4% to 4.22 million tonnes (mnt) in H1FY'26 from 4.06 mnt in H1FY'25, as per data maintained with BigMint. Imports peaked in April at 0.81 mnt before easing to 0.6 mnt in August and September, following adequate domestic scrap supply, a monsoon-driven construction slowdown, and ample availability of alternative metallics. Crude steel production rises 12% y-o-y in H1FY'26 The rise in ferrous scrap imports was supported by growing crude steel production, with strong demand from electric arc furnace (EAF) and induction furnace (IF) units. Mills relied on imported scrap to meet premium-grade needs and optimise yields and costs. Crude steel production increased by 12% y-o-y to 81.86 mnt, while hot metal output was up 8% to 47.35 mnt. Among alternative metallics, both sponge iron and pig iron production increased by 10% to 29.15 mnt and 4.33 mnt, respectively.