India's dependence on Melting Scrap imports continue to grow as reports show that country has imported 27% more scrap over past year (2011-2012).
Scrap imports have mainly risen due to low production of sponge iron, thanks to mining restriction in India and hike in power prices in the Country. Steel mills are more inclined for imported scrap material as it consumes less power.
India have imported over 7.7 million tons of scrap in 2012-2013 according to JPC report, a surge of 27% from 2011-2012 which stood at 6.03 million tons and almost 50% up from 2010-2011, when imports were at 4 million tons per annum.
European union remained largest supplier to Indian market with 1.34 million tons followed by South Africa at 1.13 million tons per annum and USA exported over 1 million tons per annum.
Imports from South Africa have increased drastically over cheaper price and low delivery time.
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