Ferrous scrap import to India in Apr’15 rises by 27% M-o-M owing to bulk shipments from USA. The country turns out to be the highest Scrap exporter to India this April.
Scrap imported to India in Apr’15 totaled around 5.16 lakh tonne. It was around 4.06 lakh tonne in Mar’15.
SteelMint assessed that the increase in Scrap import was due to quantity booking of mixed scrap (HMS & Shredded) at lower offers during Feb-Mar’15. Offers at that moment for imported scrap (HMS 80:20/1&2) were at USD 260-270/MT & Shredded at USD 275-285/MT, CFR India. While, Current offers for HMS 80:20/1&2 & Shredded are at USD 280-285/MT & USD 300-305/MT, CFR India respectively.
Surprisingly, USA which was out from the league of major Scrap suppliers to India from past few months, is the highest supplier this month (Apr’15), exporting around 95,000 MT (rise by around 120% M-o-M). Few bulk bookings of 30,000 MT & 40,000 MT from US to India were seen at ports like Kandla & Chennai. The deals of following shipments (Shredded scrap) were recorded at USD 275-280/MT, CFR India.
Talking about rest of the exporting countries, UAE (84,900 MT) remains the second highest exporting country to India, followed by UK (78,500) & South Africa (63,000 MT).
Among ports, Chennai port (133,500 MT) in India was the highest scrap importer followed by Ludhiana ICD (93,000 MT) & JNPT Port (88,000 MT).
As an outlook, lack of clarification in import norms by DGFT may lead to sharp fall in Scrap imports in May’15.
| Ferrous Scrap Imports to India | |
| Month | Scrap imports in MT |
| Oct’14 | 368,100 |
| Nov’14 | 404,000 |
| Dec’14 | 447,000 |
| Jan’15 | 464,000 |
| Feb’15 | 398,000 |
| Mar’15 | 406,000 |
| Apr’15 | 516,000 |
Source: SteelMint Research
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