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Metal Recycling News July 06, 2020 09:00:38 PM

India Sets Up Monitoring Scheme for Scrap Metal Imports

Paul Ploumis
ScrapMonster Author
However, it is not clear whether the monitoring scheme will cover aluminum scrap imported into the country, whose main source of imports are developed countries.

India Sets Up Monitoring Scheme for Scrap Metal Imports

SEATTLE (Scrap Monster): The Ministry of Mines in India plans to set up an import monitoring system to track nonferrous metal imports. The new system will monitor aluminum and copper scrap entering the country. The Ministry did not clarify on whether scrap shipments will fall under the new surveillance system.

According to media reports, the ministry is said to be at an advanced stage of the process to implement the tracking system, which primarily aims to introduce transparency and accountability in pricing and quality of imported nonferrous metals. The items will be monitored on the basis of set value, volume and quality parameters. The technicalities of the new system will follow those of the Steel Import Monitoring System introduced in November last year.

After holding consultations with various stakeholders, the Ministry is planning to launch monitoring system for over 40 aluminum items and more than 45 types of copper items, including copper alloys.

However, it is not clear whether the monitoring scheme will cover aluminum scrap imported into the country, whose main source of imports are developed countries. The country had imported $2.275 billion worth of aluminum scrap in FY 19.

Further to approval by the ministry, the proposed system will undergo review by the Directorate General of Foreign Trade (DGFT).

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