India’s new scrap steel recycling policy calls for 35% to 40% of all raw steel used in smelting to be obtained from scrap by 2030. That could lead to continued growth in demand for scrap steel imports. There’s already been an increase of 36.5% year over year in the 12 months to Aug. 31 in India’s scrap steel imports, likely due to a tightening of import rules by China. Total Indian imports of scrap steel reached $3.47 billion in the past 12 months, led by shipments from the U.S. The market is highly fragmented with the top two importers, Jindal Steel and Viraj, only ...