India has turned the 2nd largest ferrous scrap importer in the year 2015, according to a recent report by BIR (Bureau of International Recycling). Turkey remains the largest buyer of imported scrap, with total import of 16.25 MnT.
Scrap import to India in 2015 was recorded at 6.7 MnT against 5.6 MnT in 2014.
India has surpassed Korea as the 2nd largest buyer of sea borne scrap. Korean scrap import in 2015 was recorded at 5.7 MnT against 8 MnT in 2014.
Reports highlight that scrap import to India has jumped high on account of rise in bulk scrap import, which was an all time high.
According to SteelMint statistics, Indian importers imported 27 bulk vessels, which is about 748,900 MT i.e. 11% of total scrap import to the country.
According to SteelMint’s analysis, around 18-20% of crude steel is produced using scrap (domestic and imported).
Top Ferrous Scrap Importers
| Countries | 2014 | 2015 | % Change |
| Turkey | 19.1 | 16.3 | -14.9 |
| India | 5.7 | 6.7 | +17.5 |
| Korea | 8.0 | 5.7 | -28.8 |
| Taiwan | 4.3 | 3.3 | -23.3 |
| USA | 4.2 | 3.5 | -16.7 |
| EU-28 | 3.1 | 2.8 | -9.7 |
| China | 2.5 | 2.3 | -8.0 |
| Indonesia | 2.1 | 1.1 | -47.6 |
Source: BIR
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