Indian ferrous scrap imports rise 60% m-o-m in Sept

Indian ferrous scrap import volumes have resumed in Sept’20 after declining consecutively after May’20. Restocking ahead winters and concerns of lower collection due to pandemic are likely to keep demand boosted. UAE, the United States, and the UK remained the major scrap suppliers to India. Imported scrap prices in India have rebounded to a one-month high last week. India imported ~5.5 mn t ferrous scrap in FY’20.