India to abolish import tariff on steel scrap

The Indian Ministry of Steel is currently in negotiations with the Ministry of Finance about the abolition of the 2.5% import tariff on steel scrap, as EUWID Recycling & Entsorgung reports. However, it is not sure how long this potential abolition will last. Currently, India is dependent on steel scrap imports. When India produces enough steel scrap to meet its national demand, the import tariff will be implemented again, according to the Secretary of the Ministry of Steel. However, the ministry expects the demand to increase from 7 million tpy to 10 million tpy.

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