In 2023, the import of waste or scrap of alloy steel, other than stainless, stood at an undisclosed base value. From 2024 to 2028, the import value is forecasted to increase steadily each year, from 55.042 million USD in 2024 to 59.045 million USD in 2028.
The year-on-year growth from 2024 to 2025 is approximately 1.87%, and similar steady growth is observed each year. Over the 5-year span, the compound annual growth rate (CAGR) indicates a modest upward trend.
Future trends to watch for include:
- Global steel recycling initiatives that might impact supply and pricing.
- India's domestic steel demand fluctuations affecting import reliance.
- Environmental regulations influencing waste management and recycling processes.
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