India imported total of 677,000 MT ferrous scrap in Dec’15, recording a rise of about 27% M-o-M. In the previous month (Nov’15), scrap import was about 533,000 MT.
USA was the highest scrap exporter to India in Dec’15 with total export of over 165,000 MT, recording a rise of 65% M-o-M. The exporter’s list was then being followed by UK at 115,200 MT (+44%) and UAE at 69,800 MT (-9.5%).
Meanwhile, Chennai Port remained the highest scrap importer with 163,500 MT import (rose by 12% M-o-M), followed by Ludhiana ICD at about 108,300 MT (+11%) and JNPT at 107,900 MT (+26%).
India in total has imported about 5,740,000 MT (5.74 MnT) in 2015 (Jan-Dec’15).
Reasons for increase in import
Number of bulk shipments were recorded at Chennai, Kandla and Mundra Ports. Attractive offers and low freight from USA have motivated Indian mills to book bulk vessels. Pre-winter stocking pressure was also consider as one of the reasons. Chennai, individually imported approx 70,000 MT scrap from US, followed by Kandla (48,000 MT) from USA.
Leave a Reply