Indonesia’s scrap import down by 27% m-o-m in Feb’21

Indonesia – an emerging ferrous scrap market, registered a drop in its scrap imports by 27% m-o-m. However, the imports were remain stable on y-o-y basis. The country imported 0.08 mn t scrap in Feb’21 against 0.11 mn t a month ago, as per data maintained with SteelMint. Singapore remained the largest supplier at 0.03 mn t of ferrous scrap, followed by Hongkong, Australia and UK. Indonesian imported scrap market observed disparity between bids & offers which kept the buyers away from the market.