India’s imports of ferrous scrap fell around 23% y-o-y in calendar year 2024 (CY’24) to 8.44 million tonnes (mnt), as per latest BigMint data, compared with over 11 mnt in CY’23. Apart from higher usage of domestic scrap, geopolitical conflicts and their impact on maritime trade and freight rates, declining shipments from key geographies, and higher use of sponge iron in domestic steelmaking were some of the major factors weighing on scrap imports.
Leave a Reply