India's Scrap Imports Totaled 2.87Mt in H1 2018

SEATTLE (Scrap Monster): According to data published by the Ministry of Commerce in India, the country’s imports of ferrous melting scrap reported notable rise in June this year. The scrap import growth in the country was mainly driven by higher intakes from the U.S. and the UAE. The imports totaled 562,079 tonnes, higher by 4.8% when compared with the previous year. The Indian scrap imports had totaled only 536,334 tonnes in June 2017.

The supplies from UAE surged higher by almost 50% to 92,056 tonnes. Similarly, the U.S. supplies too were up significantly by nearly 9% to total 92,410 tonnes. The highest year-on-year surge of 173% was seen in imports from Singapore, which totaled 54,249 tonnes. On the contrary, the imports from the U.K dropped significantly by 36.4% to total 45,082 tonnes, Commerce Ministry data said.

The scrap imports by India totaled 2.87 million tonnes during the first half-yearly period in 2018. The primary supplier was the UAE, with supplies registering 48% growth to 558,942 tonnes. However, this was offset by 13% and 17% decline in imports from the U.S and U.K, whose supplies totaled 323,979 tonnes and 244,577 tonnes respectively. The other key suppliers were Singapore (206,911 tonnes) and South Africa (148,742 tonnes). Among African suppliers, the 286% surge from the Republic of Congo was partially offset by 89% decline in imports from Tanzania.

The Indian scrap imports had witnessed 14% decline during the full year 2017, mainly on account of new scrap import regulations.