SteelGuru organized first ever Steel Scrap Summit in India

The first ever initiative on Steel Scrap Sector turned out to be a never before B2B platform for more than 250 international and India delegates from 135 companies and organizations including major participation from and Government agencies End Quote

(1888PressRelease) February 16, 2012 - Ferrous sector in India witnessed a first ever B2B networking platform for the steel scrap sector in India on February 9, 2012 at The Palms, Gurgaon, Haryana. After the grand success of the first 'Indian Steel Market' conference in the month of March 2011, SteelGuru; (the most popular English portal in the world for steel and steel related information) initiated some unique B2B networking platforms for steel sector in India.

This first initiative on steel scrap sector left people demanding for more ever after the buyer & seller meet on 10th Feb at the Park Plaza, Gurgaon. More than 250 international and Indian delegates from 135 companies & organizations participated and exchanged business at the summit.

The summit was divided into four industrial sessions i.e. Steel Scrap Dynamics, Secondary Steel Sector in India, Perspectives from Sellers and Buyers and Critical Issuesand Way Forward. Started at 09:30am with the opening remarks by Mr. Nishith Sharma, Founder & CEO, SteelGuru and inaugural address by Shri S. Machendranathan, additional secretary & financial advisor, Ministry of Steel, Government the event concluded at 05:30pm with open house and vote of thanks.

Shri S. Machendranathan, additional secretary & financial advisor, Ministry of Steel, Government of India, in his inaugural remarks, enlightened the delegates about the importance of steel scrap and it's recycling for sustainability of the resources and environment. He specifically focused on the facts how technology up-gradation, organizing the steel scrap sector and availability of the same to secondary steel producers are important for the country like India.

Dr. A. S. Feroz, Chief Economist, Economic Research Unit, Ministry of Steel, Government of India, further elaborated the present situation and scope of the steel scrap in our country in the long run. In his lecture on 'Indian Growth Prospects & Outlook for Long Products' he explained, how current inflation rate and tight money supply situation is effecting the long products market. He also said the demand of long steel products to rise up to 43.60 million tonnes by 2016-17. Demand of the structural steel products to rise up to 9.30 million tonnes from current 5.26 million tonnes in the coming years.

ShriPravin S. Nagarsheth, President, Iron Steel Scrap &Shipbreakers Association discussed and explained various key issues and outlook of Ship Breaking Scenario. According to him, the current tariff heading for scrap import to India needs to be redefined. He presented the fact about the importance of improvement of the breaking yards and land laws. ShriNagarsheth raised the various key issues which are to be addressed by government in terms of policy making and custom law implementation.

Shri Najib Shah, Chief Commissioner Customs (Delhi Zone) CBEC interaction with participants was very well appreciated. Shri Shah repeated one of the speaker's quote "people see scrap business as dirty business from outside" but this business is clean and better for environment. He answered many questions related with customs clearance and was open for further interaction with people through small meetings with customs department.

Some of the other distinguished speakers from prominent organization at the summit were Mr. BD Ghosh, Additional Industrial Advisor, Ministry of Steel, Mr. Zain Mathani, Vice President Metal Recycling Association of India, Mr. K. K. Garg, President All India Induction Furnaces Association, Mr. R. K. Bagchi, Director, National Institute or Secondary Steel Technology, Mr. S. A. Husain, Head Radiological Safety Division, Mr. Abhijeet Mahanta, Director, EMR India, Mr. Govind Mishra, Manager, UNDP SEF Steel Project.

Steel Scrap Summit 2012 was supported by All India Induction Furnaces Association (AIIFA), Metal Recycling Association of India (MRAI), National Institute of Secondary Steel Technology (NISST), Institute for Steel Development and Growth (INSDAG), Steel Furnace Association of India (SFAI), All India Steel Rerollers Association (AISRA), The National Association of Recyclers of Hungary (HOE), Scrap Economy Chamber of Industry and Commerce - IPHGZ and Canadian Association of Recycling Industries (CARI).

Event was sponsored by Radial Europe Ltd, Midas Group, ThermoFisher Scientific, Buoysail TR EST and Trade Metallica.

Recycle International, Recycle Today and Scrap magazine of ISRI promoted the event as print media partner and Recycle Trade India, IndiaMart.com and IndiaTrade.com were the online media partner.

Highlights of the key topics discussed at 'Steel Scrap Summit 2012':
• Global Steel Scrap & Indian Imports Scenario
• Outlook for Long Products
• Steel Scrap - Effect on Quality of Steel
• Shipbreaking Scenario - Issues and Outlook
• Steel Rerolling Challenges
• Perspective from Scrap Suppliers
• Perspective from Scrap Buyers
• Presence of Radioactive Contamination in Recycled Steel
• Prevention from Radioactive Radiation
• Technology to Monitor Quality
• Shipping and Logistic Issue

Further, more than 100 participants of the summit interacted with each other and spent one to one with buyers & sellers on the 10th Feb at Park Plaza, Gurgaon. Buyer & Seller meet was specifically design by GBC to create value proposition for all the participants at the summit to meet directly with prospective buyer & seller and have more clarity on the business and transaction with new and existing clients.

Format of the Steel Scrap Summit including buyer & seller meet was well appreciated by all the international and national participants. It was a much needed platform for the entire secondary steel sector in India.

About SteelGuru
SteelGuru, world's most popular English based portal in the arena of steel, metals and mining, was brought into existence in 2005 as an attempt to create a distinctive place to help individuals and companies in the business of steel and allied materials to do better by utilizing information. SteelGuru has achieved this goal partially by attracting more than four millions page hits per month.

SteelGuru team aggregates content from various news wire services, press releases from companies, partner news service portals and own correspondents, modifies to make them easier to read and publishes 130 to 150 articles on the website every day without any break.

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