Initiatives to reduce carbon emissions in the steel industry are becoming increasingly important. What steps is Gemini Corporation taking towards sustainable steel production and green steel solutions?
Gemini Corporation NV established in 1989 has evolved from International Trading Company to Circular Economy Market Makers giving a second life to 2 million tonnes of material annually. We seek to strengthen the circular economy ecosystem in a just and equitable manner with focus on social upliftment, efficient logistics, provision for working capital, education, end-to-end traceability and on-ground action.
We are taking significant steps towards sustainable steel production and green steel solutions. As a strong advocate for sustainable recycling, the company believes in giving a second life to recyclable materials. We contribute to recycling of 1 million tons of steel thereby reducing up to 1.5 million tons of CO2 emissions annually through our network of partners across the world by providing sustainable raw materials ensuring in a very efficient process which helps reduce emissions and conserve natural resources. We are committed to promoting a circular economy by recycling waste materials and reducing the need for virgin raw materials.
What are your thoughts on the role of recycled ferrous metals in steel production? What strategies should be adopted to increase recycling rates in the industry?
I love Steel because Steel is 100% recyclable and scrap accounts for about 30% of the total metallic input to steel production globally. The iron and steel sector accounts for nearly 8% of global emissions from the energy sector & to achieve climate goal, decarbonising the steel sector is key.
Scrap-based EAF production is one of the few fully commercially available levers for decarbonising steel production. Various net-zero scenarios for the steel sector suggest that the share of scrap input in steel production could increase up to around 45% by 2050 depending on the deployment of new recycling technologies for scrap collection, sorting, processing & increasing economic incentives to recycle.
Steel scrap trade can also direct scrap to countries with comparative advantage in sorting and processing activities, which in turn can help boost global recycling rates. The gains from trade help countries develop and strengthen a comparative advantage in sorting and processing steel scrap into valuable materials
Recycled ferrous metal play a vital role in sustainable steel production offering environmental, economic and social benefits. As the steel industry continues to evolve, the importance of recycled ferrous metal will continue to grow.
As the Head of Ferrous Business, what innovations and growth strategies are you implementing in your department? What are Gemini Corporation’s goals and investments in the ferrous metals sector?
Our main strength comes from being the supplier of a customer while also being the customer of the customer. For example, we supply stainless steel scrap to major mills in India and we buy back the finished product to redistribute it efficiently & with full traceability to close the loop whilst growing our business portfolio & giving back a considerable share of it’s profit back to the society. We run several medical centres where around 400 patients are provided free medication daily; we have two schools for free education of 250 students; and we have planted and take care of 100,000 trees in Rajasthan, India.
We are working closely with steel mills to promote sustainable steel production by supplying them more recycled steel scrap which in turn reduces energy consumption. We have invested in digital technologies such as AI, IoT to optimize our ferrous metals recycling and trading operations.
Waste management around the world has crossed the trillion-dollar mark and is increasing by 100 million per day. Developing nations are seriously lagging when it comes to a dedicated recycling and refuse handling policy. Therefore, international trade of recyclable steel & other material is like urban mining with great opportunities for us.
If you were to assess the global scrap market in 2025, could you share your perspective and insights covering the entire year?
Global scrap market is dealing with many uncertainties because of the trade war between USA & China, actual wars, protectionist measures & worsening geopolitical scenarios which has caused sharp volatility & uncertainty in the exchange rates, freights, stock market and its ripple effect is felt on the major scrap importing countries in the world.
Despite the changes, Steel scrap market will forge its own path in 2025 as it has always done & provide more STABILITY. However, I would suggest to all my peers to “tread with caution” & do not put yourself under a risky situation. It is time to consolidate, manage your cash flow efficiently & not to go overboard with your finances.
How would you evaluate Türkiye’s position in the global scrap market?
Türkiye’s strategic location with the access to Europe, Asia & the Middle East makes it a natural trade hub & its position in the global scrap market is prolific driven by its robust steel production, increased domestic demand & regional demand. Last year Türkiye imported around 20 million ton of scrap & 2nd largest producer of steel in Europe & 8th largest in the world.
However, the reliance on scrap from Europe & USA has increased over the past years owing to reduce trade with Russia. The US tariff and addition of ferrous scrap as a critical raw material would make it highly protected under EU law, it could become challenging for Türkiye to procure steel scrap from its two major exporters. Therefore, I feel Türkiye should plan to diversify its trade routes and increase trade volume with Africa and the Middle East as scrap demand rises with stricter global environmental regulations, European steelmakers pushing the EU to restrict scrap exports
Türkiye’s own political situation, weakening currency & increasing cost of energy has a massive impact on the future of steel industry. However, if correct decisions are taken by the ministry, these challenges could turn into an opportunity for Turkish steel mills & the entire global steel industry.
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