Govt wants steel makers to increase use of scrap metal

Govt wants steel makers to increase use of scrap metal

The steel ministry has also asked the stakeholders of the sector to develop a time-bound action plan to lower emissions in the steel industry.

PTIUpdated: Thursday, December 22, 2022, 10:21 PM IST
article-image
Domestic demand for finished steel to grow 8% yoy: Icra/ Representational image | Image by sawaeng wonglakorn from Pixabay

Union Minister Faggan Singh Kulaste on Thursday directed the domestic steel industry to increase use of scrap in their production, underscoring that carbon emission is a serious concern.

India uses 30 million tonne (MT) scrap annually to manufacture steel, out of which 26 MT is generated domestically and remaining through imports.

Currently, India's overall steel production stands at around 120 MT.

"Carbon emissions are a concern.... the steel sector must increase use of scrap in their steel production," he said at CII Steel Summit 2022 here.

The industry must also adopt new-age technologies to lower their carbon emissions, the Minister of State for Steel said.

However, he did not speak on the quantum of scrap which steel makers must include in their production.

According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, whereas in India, it contributes 12 per cent to the total CO2 emissions.

The steel ministry has also asked the stakeholders of the sector to develop a time-bound action plan to lower emissions in the steel industry.

"100 per cent scrap using electric arc furnace / induction furnace ( EAF /IF) emit 0.4 to 0.8 tonne of CO2 per tonne of crude steel," Parth Kumar, of Centre for Science and Environment (CSE) said.

On an average, 2.5 tonne of CO2 is emitted on manufacturing of every one tonne of crude steel, he said.

RECENT STORIES

Bajaj Finance Receives RBI Approval To Resume Loans Via eCOM And Insta EMI Card

Bajaj Finance Receives RBI Approval To Resume Loans Via eCOM And Insta EMI Card

SEBI Makes Mandatory Registration Of PMS Distributors With Industry Body

SEBI Makes Mandatory Registration Of PMS Distributors With Industry Body

GST Records Highest-Ever Collection In April 2024; Check Out State-Wise Data

GST Records Highest-Ever Collection In April 2024; Check Out State-Wise Data

Through All Terrains: Isuzu 2024 D-Max V-Cross At ₹26.91 Lakh

Through All Terrains: Isuzu 2024 D-Max V-Cross At ₹26.91 Lakh

Adani Enterprises Consolidated EBIDTA For FY24 Increases By 32% To ₹13,237 Cr

Adani Enterprises Consolidated EBIDTA For FY24 Increases By 32% To ₹13,237 Cr