India’s stainless steel scrap imports stood at 121,835 tonnes (t) in October 2022, an increase of 23% from volumes imported in September, according to customs data.
Total imports from January to October this year stood at 101,0341 t.
Trader sources said the imports were mostly cargoes which were booked probably two-three months back. Some of them were Russian-origin as well that have started coming into the market now.
Series-wise imports
- 316 series stainless steel imports witnessed a rise in volumes by 19% at 14,675 t in October as against 12,274 in September.
- 300 series stainless steel imports stood at 96,554 t in October, up 20% as against 80,307 t in September.
- 200 series imports were at 11,170 t, an increase of 60% from 6,976 t in the previous month.
- 400 series import volumes stood at 11,215 t, an increase of 25% from 8,948 t in September.
- The most-traded 304 grade scrap imports increased by 21% to 56,790 t in October as against 46,783 t in September.
- 430 grade scrap imports rose 53% to 8,373 t after decreasing for four consecutive months till September.
201 grade scrap imports increased 64% m-o-m to 9,507 in October.
Country-wise breakup
- US top exporter: The US was the top exporter of stainless steel scrap to India in October at 16,059 t, an increase of 16% from 13,874 t in the previous month.
- Thailand and South Korea were the other major exporters at 9,449 t and 8,439 t, respectively.
Price trend
Steelmint’s assessment of 304 grade stainless steel scrap stands at INR 120,571/t, a decrease of nearly INR 12,500/t m-o-m compared to INR 133,000/t in September.
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