Ferrous Scrap Import to India Increases by 15% in November

India imported total of 533,000 MT ferrous scrap in Nov’15, recording a rise of around 15% M-o-M. In the previous month, scrap import was 465,000 MT.

USA became the highest scrap exporter to India with total export of over 100,000 MT in Nov’15, followed by UK (79,500 MT) and UAE (77,300 MT).

Meanwhile, Chennai port became the highest scrap importer with imports of about 145,000 MT, followed by Ludhiana ICD (97,500 MT) and JNPT (85,100 MT).

India in total has imported about 5,063,000 MT (5.06 MnT) during Jan-Nov’15.

Reasons for increase in import

Increased number of bulk shipments to the Indian ports has significantly contributed to rise in scrap import. Many bulk vessels, which were booked during Aug-Oct’15 in desperation to cheaper offers, are back to back heard of arriving Indian ports.