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Metal Recycling News August 27, 2014 03:30:38 AM

Scrap imports by India tumbled 35% during Jan-May '14

Paul Ploumis
ScrapMonster Author
The scrap imports by India during the initial five months of the year declined sharply

Scrap imports by India tumbled 35% during Jan-May '14

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

According to trade data, India imported 1.92 million tons of scrap during Jan-May this year. This is 34.5% lower when compared with the imports of 2.93 million tons during the same period last year.

During Jan to May ‘14, UAE was the main exporter of scrap to India. The scrap imports from the UAE totaled 453,000 tons, accounting for 23.6% of the total imports by India during the period. The scrap imports from the UAE were marginally up by 2.8% 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 five-month period totaled 288,000 tons, down nearly 20% 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 five months of the year. The scrap imports from South Africa plunged significantly lower during the period. South Africa exported 277,000 tons of scrap into India. The scrap imports from South Africa during the first five months of the current year are nearly 43.4% lower when compared with the imports during the similar five-month period last year.

The scrap imports by the country during the month of May ’14 alone totaled 500,098 tons.

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