SCRAP MARKET

▪ Imported scrap comes at a premium of ~4,000-5,000 a tonne over domestically produced sponge iron

▪ There are close to 950 sponge iron units across the country of which about 750 units are currently operational

▪ A vehicle scrap policy to address the scrap availability is in works

▪ Domestic vehicle scrap is a better raw material over sponge iron or imported scrap