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Metal Recycling News September 15, 2017 12:30:43 PM

Indian Ferrous Scrap Imports Tumbled 29% in First Half of 2017

Carolina Curiel
ScrapMonster Author
The cumulative scrap imports by India during the first half of 2017 totaled 2.682 million tons.

Indian Ferrous Scrap Imports Tumbled 29% in First Half of 2017

SEATTLE (Scrap Monster): The shipment of containerized scrap to India reported third consecutive month of increase in June. The imports jumped significantly higher over the previous month. However, the June ’17 imports reported huge decline over the previous year. The recent data published by the Indian Directorate General of Commerce Intelligence and Statistics (DGCI&S) under the Ministry of Commerce noted that cumulative ferrous scrap imports during the initial half of 2017 tumbled over the previous year.

The country’s scrap imports during June totaled 536,000 tons, down marginally by 8.3% when compared with the same month last year. India had imported 585,000 tons in June 2016. When matched with the imports of 434,000 tons in May this year, the monthly imports climbed higher considerably by 23.7%.

The cumulative scrap imports by India during the first half of 2017 totaled 2.682 million tons. The imports during this period registered sharp 28.9% decline over the corresponding period last year. India had imported 3.77 million tons of scrap during the initial six month period in 2016. The monthly imports averaged at 447,000 tons. Going by the current rate, the country’s scrap imports are likely to total around 5.36 million tons.

Imports-May ‘17

India imported 434,000 tons of ferrous scrap in May this year. When matched with the prior month, the imports registered marginal uptick of 3.3%. When compared with imports during the same month a year before, the May ’17 imports were down significantly by 29.1%. The country’s scrap imports had totaled 612,000 tons during May 2016.

The largest exporter of ferrous scrap to India was the UAE. The imports from the UAE totaled 64,000 tons, accounting for nearly 15% of the total scrap imports by India during the month. Over the previous year, the imports from the UAE have surged higher by 12.3%. India’s ferrous scrap imports from the UAE had totaled only 387,000 tons during May last year.

Imports-April ‘17

India’s scrap imports had totaled 419,789 tons in April. The imports registered 22% month-on-month jump. The country’s scrap imports had totaled 342,572 tons in March.

The largest supplier of scrap to India during April this year was the UAE. The country’s imports from the UAE totaled 77,620 tons, rising significantly by nearly 32% when matched with the imports of 58,678 tons in March. However, the imports from the UAE dropped sharply by 14% over the same month a year before. In second place was the UK. The imports from the UK totaled 49,018 tons during the month, rising considerably from 32,402 tons in March 2017. The USA exported 32,965 tons of scrap to the country, thereby emerging as the third largest supplier. The imports from the US recorded sharp 34% decline when compared with 50,418 tons in March this year.

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