India's scrap imports down 40.8% during Jan-Apr '14, says trade data

NEW DELHI (Scrap Monster): The scrap imports by India during the initial four months of the year declined sharply. The country’s scrap imports during this period plunged significantly upon comparison with the imports during the corresponding four-month period in 2013.

According to trade data, India imported 1,419,902 tons of scrap during Jan-Apr ’14 this year. This is 40.8% lower when compared with the imports of 2,399,880 tons during the same period last year.

During Jan to Apr ‘14, UAE was the main exporter of scrap to India. The scrap imports from the UAE totaled 372,000 tons, accounting for 26.2% of the total imports by India. The scrap imports from the UAE were marginally up by 2.7% when compared with the imports during the same period a year ago.

The second largest source of scrap imports by India was the UK. The scrap imports from the UK during the four-month period totaled 212,000 tons, down 21.6% over the previous year. The scrap imports from the UK constituted 15% of Indian imports.

South Africa remained the third largest ferrous scrap exporter to India during the initial four months of the year. The scrap imports from South Africa plunged significantly lower during the period. South Africa exported 180,000 tons of scrap into India. The scrap imports from South Africa during the first four months of the current year are nearly 56.5% lower when compared with the imports during the similar four-month period last year.

The scrap imports by the country during the month of April ’14 alone totaled 426,832 tons.