Indian import of ferrous scrap has decreased in Feb’17 compared to the month prior. The total imports from Feb’16 to Feb’17 show that the imports have been down by a considerably high margin.
India imported 0.28 MnT of ferrous scrap during the month of Feb’17 down by 14% when compared to the month earlier. Country had imported 0.32 MnT in Jan’17. The imports have fallen Y-o-Y by 46%, it were 0.52 MnT for Feb’16 against 0.28 MnT in Feb’17.
Top Exporters to India for Feb’17 were :
| Exporting Country | Feb’17 | Jan’17 |
| United Arab Emirates | 55,002 | 27,180 |
| United States Of America | 54,525 | 97,253 |
| United Kingdom | 24,511 | 28,919 |
| South Africa | 17,283Ind | 13,923 |
| Malaysia | 13,535 | 17,652 |
| Canada | 12,189 | 16,324 |
| Others | 103,794 | 123518 |
| Grand Total | 280,840 | 324,769 |
Source: Customs
Quantity in MT, Provisional Data
According to Steelmint Analysis, “The Imports for Feb’17 decreased as the prices during this period were high, the buyers were not active in the market. The buyers were in a wait for the prices to show correction. No bookings were heard in the month of Feb’17.”
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