Stainless steel scrap imports in May 2022 stood at 89,995 tonnes (t), down 7% as against 97,182 t in April 2022, as per customs data. Higher overseas scrap prices in March led to lower booking volumes from mills and traders.
Cumulative imports in January-May 2022 were recorded at 516,128 t.
Series wise imports-
- 300 series import volumes stood at 69,766 t in May, down 3% as against 72,233 t in April.
- 200 series volumes were at 7,033 t, down 34% as against 10,719 t in the previous month.
- 400 series volumes stood at 11,440 t, down 9% as against 12,620 t in April.
- The most traded 304 grade scrap imports were up marginally by 0.7% to 36,109 t in May as against 35,847 t in April.
- 430 grade scrap imports also increased 3% to 8,295 t in May as against 8,047 t in April.
Zurik scrap imports accounted for 30% of the total stainless steel scrap imports in May, down by 7% as compared to April.
Country-wise breakup
USA largest exporter: USA was the largest exporter of stainless steel scrap to India with 11,791 t in May, down 15% as against 13,813 t in the previous month. Other major exporters were Vietnam and Malaysia with 11,430 t and 7,688 t respectively.
Exports from Thailand were recorded at 6,614 t while those from UAE were at 5,134 t in the month under review.
Notably, India imports around 1.2 mnt of stainless steel scrap every year.
Price trend- 304-grade stainless steel scrap prices fell by INR 18,000/t m-o-m in June 2022 on falling LME prices and low demand from manufacturers. A similar trend was also seen in stainless-steel finished products. The current price of 304 grade scrap is around INR 149,000/t ($/t) exy-Delhi.
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