Scrap metal is fast becoming the most critical raw material for low-carbon steelmaking, according to speakers at the 12th Indian Steel Markets Conference. “Steel is among the rare materials that can be recycled endlessly without any loss in strength or performance. This makes it central not only to industrial progress but also to sustainable growth. India currently uses about 42 million tonnes of scrap a year, and consumption is increasing at more than 6% annually. The country also imports nearly 9 million tonnes of scrap every year,” said Vinaya Varma, Managing Director of mjunction services limited, during the opening session of the two-day event organised by mjunction.
Reflecting global priorities around reducing emissions in steel production, this year’s conference focuses on ‘Indian Steel Value Chain – Recycle. Reshape. Innovate. Sustain.’ “Sustainability has moved from being optional to being a strategic necessity,” noted Syed Jawed Ahmed, Executive Director at SAIL, outlining the company’s approach to meeting emerging green steel requirements.
A major challenge accompanying rising steel consumption is securing adequate scrap supplies. “With government capital expenditure accounting for 60% of domestic steel use, a young and expanding population is also adding to demand,” said Girishkumar Kadam, Senior Vice President & Group Head, Corporate Sector Ratings at ICRA.
As production scales up, the industry is confronting tightening raw material availability. Sandeep Kumar, Vice President, Raw Materials at Tata Steel, highlighted that dependence on imported coking coal will become increasingly costly, while competitive bidding for iron ore blocks is driving domestic ore prices higher.
Beyond decarbonisation, the conference aims to offer comprehensive insights into the rapidly shifting global and Indian market environment—covering policy developments, trade patterns, sustainability pressures, and the broader forces shaping India’s ambitious steel expansion. For more than 20 years, mjunction has played a key role in formalising India’s scrap ecosystem, handling material from auto manufacturers, EPC projects, plant and machinery units, and various industrial generators. The company has also been an early facilitator of sales from Registered Vehicle Scrapping Facilities (RVSFs) and has supported organised scrap buyers for the past six years, Varma said.
To address the growing gap between scrap demand and availability, mjunction has developed an AI-enabled digital platform supported by an experienced procurement team. This system offers structured, compliant access to the market while adhering to environmental, legal, and commercial norms.
More than 250 GST-registered suppliers across over 120 locations are now part of the network, enhancing reach and dependability.
Over the last three years, mjunction has supplied 1.2 million tonnes of scrap to major Integrated Steel Plants across 15 states. It has coordinated logistics for more than 37,000 truckloads and over 64 rail rakes, ensuring smooth end-to-end operations, Varma added.
mjunction services limited—a 50:50 joint venture of Tata Steel and SAIL—is the country’s largest B2B e-commerce enterprise and has been enabling digital transformation across sectors for over two decades. Established in 2001 with its pioneering metaljunction platform to bring transparency and efficiency to steel sales, the company has since diversified into e-auctions, e-procurement, loyalty programmes, e-marketplaces, agri-trade, financing solutions, and multiple specialised services.
With platforms such as mjGRO for loyalty management, mjunction caters to more than 140 major public- and private-sector clients. The company remains consistently profitable, reporting operating revenue of ₹324 crore and a consolidated PAT of ₹71.53 crore for FY25, and continues to deliver steady dividends to its promoters. Focused on innovation, transparency, and customer value, mjunction remains a key driver of digital growth and efficiency in India’s B2B commerce landscape.
