Scrap key to India's steel decarbonisation efforts: mjunction’s steel conference

 

 

Scrap key to India's steel decarbonisation efforts: mjunction’s steel conference

 

Mumbai, November 13: Steel scrap is emerging as the key input for green steel, speakers at the 12th Indian Steel Markets Conference said.

 

"Steel is one of the few materials that can be recycled infinitely without losing its strength or quality. That makes it not only the backbone of industrial growth, but also of sustainability. India today consumes around 42 million tonnes of scrap annually, and this figure is rising by over 6% year-on-year. Nearly 9 million tonnes of scrap is imported into the country every year," Vinaya Varma, Managing Director, mjunction services limited said at the opening session of the two-day 12th Indian Steel Markets Conference organised by mjunction services limited kicked off here today. 

 

In line with global concern of decarbonising the steel sector, theme of the conference this year is the “Indian Steel Value Chain – Recycle. Reshape. Innovate. Sustain.”

"Sustainability is no longer optional but strategic," said, Syed Jawed Ahmed, Executive Director, SAIL detailing how the public sector company is embracing sustainability and creating capabilities to meet evolving green steel norms.

 

Sourcing scrap remains a key concern for India as demand for steel continues to rise.

 

"While government capex is driving 60% of steel usage, India's young and growing population is also generating demand," Girishkumar Kadam, Senior Vice President & Group Head, Corporate Sector Ratings, ICRA, said.

 

As steel demand and production rises, the sector is facing raw material sourcing challenges.

 

Import of coking coal is going to be expensive in long run while aggressive bidding for iron ore mines is driving up domestic iron ore costs, according to Sandeep Kumar, Vice President, Raw Materials, Tata Steel.

 

Beyond decarbonisation, the conference seeks to deliver deep insights into the volatile global and domestic landscape, critical policy shifts, evolving trade dynamics, and the imperative for sustainable practices that are reshaping the industry and driving the dialogue on India’s ambitious steel growth trajectory.

 

mjunction enabling organised Scrap Procurement: 

For over two decades, mjunction has been a leading player in the organized scrap trade, handling materials from Auto OEMs, EPC sites, P&M units, and various industrial sources. As a pioneer in facilitating sales from Registered Vehicle Scrapping Facilities (RVSFs), mjunction has also been actively sourcing scrap for organized buyers for the past six years, Mr Varma said.

To bridge the gap between demand and supply, mjunction has built an AI-driven digital platform supported by an experienced team of scrap procurement professionals. This platform provides structured market access to buyers while ensuring compliance with environmental, legal, and commercial standards. Over 250+ GST-compliant suppliers have been onboarded across 120+ locations, strengthening the network’s reach and reliability.  

 

mjunction has delivered 1.2 million tonnes of scrap over the past three years to major Integrated Steel Plants (ISPs) across 15 states. It has managed logistics for 37,000+ vehicles and 64+ rail rakes, ensuring seamless end-to-end coordination, Mr Varma added.

 

About mjunction:

mjunction services limited, a 50:50 joint venture between Tata Steel and SAIL, is India’s largest B2B e-commerce company, leveraging technology to create value across industries for over two decades. Founded in 2001 with the launch of its pioneering metaljunction platform to bring transparency and efficiency to steel sales, mjunction has since diversified into multiple sectors, offering a comprehensive portfolio that includes e-auctions, e-procurement, loyalty solutions, e-marketplaces, agri-commodities, financing, and specialized services. With innovative offerings like mjGRO for loyalty management, mjunction serves over 140 marquee clients in both public and private sectors, The company remains consistently profitable, reporting Rs 324 crore operating revenue and Rs 71.53 crore consolidated PAT in FY25, delivering consistent dividends to its promoters. With a strong focus on innovation, transparency, and customer success, mjunction continues to drive digital transformation in B2B commerce, enabling businesses to trade and procure with greater efficiency, scale, and trust.