India imported total melting scrap quantity up to 5.993 million tonnes in the period of April to December 2012 up by 44% from 4.148 million tonnes in the period of April to December 2011 reported by Joint Planning Commission (JPC).
The main reason interpreted behind the higher scrap imports is; there are lower offers in global market and comparatively higher sponge iron prices in Indian market. Scrap imports also moved up after Indian government waived off all kind of import duties on steel scrap.
Some of the major Melting scraps exporting countries to India during the year 2012 were-
U.K-1094000 tons
South Africa-816000 tons
Netherland-221000tons
Malaysia-198000tons
Germany-173000tons
Kuwait-138000tons
Canada-113000tons
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