The latest statistics released by the Directorate General of Commerce Intelligence and Statistics under India’s Ministry of Commerce indicate that the country’s ferrous scrap declined sharply in September, in comparison with the previous month. This is the sixth straight month of decline in scrap imports by the country. Also, imports were down when matched with those during the same month a year before. The combined imports during the initial three-quarters of 2016 were marginally up year-on-year.
India imported 338,696 tons of scrap steel in September last year. The imports were down by 11.1% when matched with the previous month. The country had imported 381,095 tons of scrap steel in August 2016. When compared with the year before, the September 2016 imports were down sharply by 34.0%. The country’s ferrous scrap imports had totalled 513,176 tons in September.
The largest exporter of ferrous scrap to India during the month was the United Arab Emirates (UAE). The imports from the UAE totalled 57,811 tons, accounting for more than 17% of the total scrap imports by India during the month.
The imports from the country witnessed nearly 9% decline from the previous month imports of 63,254 tons.
The UK was the second largest exporter during the month, with 52,580 tons. The ferrous scrap imports from the UK surged higher by more than 21% over the previous month. The other key exporters of ferrous scrap to India during the month were Malaysia (20,094 tons), Singapore (17,802 tons), South Africa (15,471 tons), Thailand (15,262 tons) and Belgium (11,573 tons).
The country’s scrap imports from January to September was 4.885 million tons. The imports during this period have witnessed marginal rise of 3.9% over the imports during the same period of 2015.
a year ago. The country’s scrap imports had totalled 4.700 million tons during January to September in 2015. The scrap imports averaged nearly 542,786 tons during the first nine months of the year. The annualised scrap imports by the country are estimated to surpass 6.50 million tons during the entire year 2016.
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