cast iron 

cast iron 

  • Cast iron scrap is a type of scrap metal that is made from cast iron. It is a valuable material that can be recycled and reused. Cast iron scrap is often used in the production of new cast iron products, as well as in other applications such as the production of steel and cement.

  • The global cast iron scrap market is expected to grow at a CAGR of 5.5% from 2022 to 2027. The growth of the market is being driven by the increasing demand for cast iron products in the automotive, construction, and machinery industries.

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India is a major importer of cast iron scrap. In 2021, India imported 2.5 million tons of cast iron scrap. The major exporting countries of cast iron scrap to India are the United States, Japan, and the United Kingdom.

The import of cast iron scrap into India is regulated by the Ministry of Commerce and Industry. The importers of cast iron scrap are required to obtain a license from the Ministry. The license application process requires the importer to provide information on the quantity and quality of the cast iron scrap being imported.

The import duty on cast iron scrap is 5%. The import duty is waived for cast iron scrap that is being imported for recycling purposes.

Here are some of the factors that can affect the supply and demand of cast iron scrap:

  • The price of iron ore: The price of iron ore is a major factor that affects the supply and demand of cast iron scrap. When the price of iron ore is high, it is more economical to produce cast iron from virgin materials. This leads to a decrease in the demand for cast iron scrap.
  • The demand for cast iron products: The demand for cast iron products is another major factor that affects the supply and demand of cast iron scrap. When the demand for cast iron products is high, it leads to an increase in the demand for cast iron scrap.
  • The availability of cast iron scrap: The availability of cast iron scrap is also a factor that affects the supply and demand of cast iron scrap. When there is a shortage of cast iron scrap, it leads to an increase in the price of cast iron scrap.