Outokumpu is launching a new initiative called Outokumpu Inner Circle, to bring together stainless steel scrap suppliers and consumers in order to strengthen the circular economy process, it says.
“The Inner Circle initiative will bring transparency to supply chains and smoothen the path from stainless steel to usable scrap, and from scrap to ever more sustainable stainless steel production – ultimately creating a closed loop for steel scrap,” the company explains.
Outokumpu says Cronimet is the first supplier of scrap joining the circle. The company notes nevertheless that this will be an open platform, inviting all suppliers and stainless steel producers to join.
The project is still being finalised and details have not been published on how the cooperation between scrap suppliers and scrap consumers will be formalised.
“At this stage, our focus is on creating the practices and learning about the co-operation. There’s been a lot of interest already, showing that there really is an industry-wide need for this kind of an initiative,” the company adds in a note seen by Kallanish. “By using existing, efficient supply chains, the ways for the scrap from customers back to the producers can be shortened. Transparency and ESG conformity throughout the supply chain will be ensured by verifying all partners within this initiative.”
Emanuele Norsa Italy