India – Indian steelmaker Tata Steel is looking at steel scrap recycling acquisitions in South East Asia and will continue to invest upstream to increase its self-sufficiency in raw materials.
‘We are looking at opportunities,’ its Group Director of Procurement, Kees Gerretse, is reported to have told the Reuters news agency at a Metal Bulletin steel scrap conference in Istanbul, Turkey.
‘We are looking, of course, not at the big ones (recyclers); we are looking at tier two or three opportunities,’ he elaborated. ‘We would like to have something in South East Asia as there is a shortage of scrap in that region.’
Tata is aiming to achieve 50% self-sufficiency in raw materials but is considered unlikely to reach this goal by 2014 as previously estimated. The Indian branch of the company is already self-sufficient in iron ore but imports some coking coal, whereas Tata Europe enjoys only 10-12% self-sufficiency in raw material, it is reported.