Ferrous Scrap Imports by India Surged 30%

The Indian ferrous scrap imports surged higher significantly by 29.8% over the previous year to total 607,497 tons in August this year.  Over the prior month, the imports were up by marginally by 3%. The country had imported 591,183 tons of scrap in July ’18.

 

The primary scrap supplier to India in August 2018 was the UAE. The supplies from that country totaled 86,771 tons, registering a jump by more than 11% over the previous month and accounting for more than 14% of the total impo0rts by the country during the month. The second largest source of import was the US. The country imported 73,867 tons of scrap from that country. In third place was the UK with supplies totaling 68,905 tons. The other key scrap suppliers during Aug ’18 were Singapore (56,959 tons), Australia (38,518 tons) and South Africa (38,222 tons).

 

The imports totaled 4.064 million tons in Jan-Aug ’18, higher by 8.8% when compared with the imports of 3.736 million tons during the corresponding eight-month period last year, said latest trade data published by the DGCI&S under the Ministry of Commerce.

 

The top three sources of import were the UAE, the US and the UK, whose combined supplies during Jan-Aug ’18 totaled 1.626 million tons, representing over 40% of the total Indian scrap imports during this period. The scrap imports from Singapore more than doubled, whereas those from China dropped heavily by more than 70%.