Scrap metal is an important industry worldwide, and India is an emerging player in this growing area. India exported 8,175 cargoes of scrap metal between March 2023 and February 2024 (TTM), supporting global trading activities. The main destinations of India’s metal scrap are Russia, the United States, and South Korea, and some of the leading scrap metal exporters in India include Balaji Group of Companies, S.S. Traders & Metal, Global Metal Recycling, Ashoka Metal Industries, and JAYJAY Metal Scrap Trading.

Scrap metals are a significant source of industrial metals and alloys, especially copper, lead, zinc, steel, and aluminum, as well as some tin, nickel, magnesium, and other precious metals. Approximately 5 million metric tons of scrap are imported, and about 25 million metric tons are produced in India.

This guide will examine India's expanding role in scrap metal exports, the most recent export data, the top exporters, and India's position in the global scrap metal market.

What is Scrap Metal?

The term "scrap metal" refers to any metal that is possible to recycle yet is no longer being used. Scrap metal can be represented in the form of old appliances, auto parts, or manufacturing scrap after the product was manufactured into finished goods. It can be smaller parts, like bars, rods, sheets, or wire, but can also be larger, like radiators or scrap cars.

Scrap metal is categorized as:

• Ferrous Scrap: Iron and steel products.

• Non-Ferrous Scrap: Metals such as copper, aluminum, gold, silver, and zinc that can be recycled repeatedly without losing chemical characteristics.
  

Various waste byproducts from mining and steel production can also be utilized in agricultural applications, the production of cement, and the construction of roads. The top metals and alloys include aluminum, iron, brass, steel, copper, cobalt, silver, and lead scrap.

India’s Scrap Metal Export Overview

India has made a name for itself as a leading exporter of scrap metals such as iron, copper, and aluminum scrap metals. Scrap metal flows easily from industries such as construction, automotive, and electrical manufacturing due to the robust recycling industry support. India is a major importer and exporter of scrap metal, which adds significantly to the global scrap metal trade.

The period from March 2023 to February 2024 saw India export 8,175 shipments of scrap metal. About 1,366 exporters of India sold scrap metal to 1,813 buyers, representing a 37% increase in sales in the past twelve months. The month of February 2024 saw 465 shipments alone. The leading recipients of India's scrap were South Korea, the USA, and Russia.

The United States, Vietnam, and China are leading exporters of scrap globally. The USA exported 1,888,609, Vietnam exported 1,036,298, and China exported 352,351 shipments. President of the Material Recycling Association of India Sanjay Mehta stated:

"Every country is going to protect their scrap due to a circular economy being implemented at home. It’s going to be a very tough situation for us. India is the biggest destination for European scrap after Turkey, and it buys the rest from the US, Central and South America, Asia, and the Middle East.”

Scrap Iron and Copper Exports

Scrap Iron Export from India:

In the year 2022–23, India ranked as the 79th largest exporter of scrap iron in the world with $32.8 million in exports. The five largest countries importing scrap iron from India are Sweden, Vietnam, China, Bhutan, and Germany. Scrap iron was the 666th largest export of India during this time.

Scrap Copper Export from India:

India held 45th place in global exports of copper scrap, which amounted to $121 million in 2022-23. Key export markets were China, South Korea, the United Arab Emirates, Japan, and Germany. Within India, 124 exporters exported 2.7K copper scrap to 327 buyers. The United States was the world's largest exporter of copper scrap with 144,131 shipments, followed by Vietnam with 66,314 shipments and Saudi Arabia with 42,706 shipments.

Top Scrap Metal Exporting Countries

Globally, the largest scrap metal exporters are:

These countries dominate global scrap exports. In 2023, the United States exported over 16 million metric tons, far surpassing other nations.

Domestic Scrap Generation and Demand

India's ferrous scrap usage increased more than 43%, from 24 million tonnes to over 34 million tonnes between 2021 and 2024. Domestic scrap generation reached around 32.4 million tonnes in FY25 and is projected to reach 46.7 million tonnes in FY30. Despite this growth, India remains reliant on imports of ferrous scrap to meet demand, with a considerable supply/demand gap in the ferrous scrap market.

India's crude steel capacity is forecasted to grow from 160 million tonnes to over 300 million tonnes by 2030, which will generate rising demand for scrap. As steelmaking transitions from BF-BOF to EAF and IF technology, scrap can be utilized 100%, centralizing scrap in India's decarbonization roadmap.

Drivers of Scrap Demand

Key drivers include:

1. Decarbonization Goals: Net-zero emissions by 2070; scrap-based steelmaking reduces carbon footprint.

2. Policy Initiatives: The Vehicle Scrappage Policy (2021) increases supply of end-of-life vehicles for recycling.
   

3. Urbanization and Infrastructure: Growing construction and industrial activity fuels steel and scrap demand.
   

4. Cost Efficiency: Scrap reduces reliance on iron ore and coking coal, lowering costs for steelmakers.

Government Policies and Support

India promotes scrap use through:

• Vehicle Scrappage Policy: Ensures a steady flow of ELVs.
  

• Low Import Duties: Often 0% to encourage scrap availability.
  

• Circular Economy Initiatives: Integrates scrap recycling into national sustainability frameworks.

These policies strengthen India’s scrap ecosystem and reduce dependence on carbon-intensive raw materials.

Global Trade Dynamics

The global scrap trade is becoming more restrictive. Nearly 48 countries have imposed approximately 75 trade restrictions as of 2024, such as bans or partial restrictions. This is affecting countries that import scrap, including India.

India's demand for scrap is on the rise against a backdrop of global competition for scrap supplies. Scrap from the EU is becoming more restrictive due to EU restrictions and "circular economy" agendas, yet India remains an important outlet for scrap materials from Europe, the US, Central and South America, and Asia.

Top Scrap Export Companies in India

• Balaji Group of Companies

• S.S. Traders & Metal
  

• Global Metal Recycling
  

• Ashoka Metal Industries
  

• JAYJAY Metal Scrap Trading
  

• R. K. Trading Co.
  

• Naveen Metal
  

• N.K. Enterprises
  

• Saini Metal
  

• Metco Marketing

Additionally, ScrapYard India, Vardhman Recycling LLP, Nupur Recyclers, and CMR are among the top recycling companies supporting export growth.

Challenges in Scrap Trade

1. Quality Concerns: Contamination or improper sorting affects value.

2. Documentation: HS codes, certificates of origin, and pre-shipment inspections are critical.
   

3. Logistics and Infrastructure: Efficient handling at ports is crucial; infrastructure improvements are ongoing.

India as a Seller’s Market 2025–2030

Between 2025 and 2030, India’s scrap market will be a seller’s market due to rising demand, limited domestic supply, and supportive policies.

• Demand: Scrap demand projected at 65 million tonnes by FY30.
  

• Supply Gap: Up to 20–30 million tonnes to be met through imports.
  

• Policy Support: Encourages domestic recycling and EAF steelmaking.
  

• Premium Pricing: Sellers can command higher prices amid global constraints.

Finding Buyers and Exporting

Starting a scrap export business requires:

1. Market Research: Platforms like Seair Exim Solutions provide shipment values, trading partners, and export-import data.
   

2. Licenses and Permits: Incorporation certificate, GST certificate, partnership deed/articles, ID proof, address proof, DGFT authorization, IEC, pre-shipment certificate, PSIC recognition, storage plan layout.
   

3. Business Plan: Locate suppliers, buyers, ports, and analyze trade data including HS codes and shipment reports.

Profit margins typically range from 10–15%, fluctuating based on demand, market conditions, and recycling costs. Copper is among the most valuable scrap metals.

Conclusion

The scrap export industry in India is rapidly developing as industries pivot to sustainability. Metals that once had low value are being emphasized. India continues to have a part in worldwide recycling as a complement for both economic and environmental sustainability.

By focusing on quality, compliance, and reliable supply chains, India's scrap exporters are already resilient to the evolving 2025–2030 marketplace.