India, the second largest importer of ferrous scrap in the world with a total consumption 17-18 Mnt. Total ferrous Scrap imports during CY 2016 touched 5.35 MnT. Last year (CY 2015) scrap imports was around 5.7 MnT, imports fell by 0.35 MnT accounting a drop of 6% Y-o-Y.
As per data maintained by SteelMint, among Indian ports, Chennai lead this year with highest Scrap import at around 1.28 MnT in 2016. Followed by JNPT, Ludhiana, Kandla & Vizag being the Top 5 importing ports of 2016. Chennai had imported around 1.14 MnT in 2015 being the second largest port to import scrap in India. The import from Chennai increased in 2016 as some bulk scraps vessels arrived this year.
Western region is on the top with highest imports at 1.92 MnT 2016. Ferrous Scrap Import in Chennai alone stood at 24% of the total import during this period.
Out of the countries from the where India imported the top 5 countries were 1 MnT from United States, 0.9 MnT from United Kingdom, 0.7 MnT from U.A.E, 0.27 MnT from Singapore and 0.26 MnT from Australia and others contributing 2.22 MnT in CY 2016.
According to Steelmint Data, India imported a total of 29 Bulk Vessels with 0.8 MnT of ferrous scrap in 2016.
Leave a Reply