One more bulk ferrous scrap import vessel is to arrive at Kandla port in Gujarat on 30 Jun’17. After arrival of 6th and 7th bulk Scrap Vessels named ‘N Discovery’ and ‘Daiwan Justice’ from USA, another vessel named ‘King Island‘ carrying 26,250 MT Scrap from USA is expected to arrive at Kandla port on 30 Jun’17.
Hike in freight costs, high disparity in freight charges and the problems with containers lead to rise in bulk scrap imports in India. Indian importers had booked around 8-10 bulk vessels in the month of May for which delivery was expected to be between June and July.
With prior seven bulk vessels, the total quantity of bulk ferrous scrap thus unloaded in India so far in CY17 summed up to 193,140 MT which will be supplemented by upcoming vessel further.
More steelmakers should use scrap based production processes – Steel Minister
“The steel industry’s landscape has undergone widespread changes and more plants using melt-and-manufacture technologies should come up,” the country’s steel minister, Shri Chaudhary Birender Singh, said on Mar’17.
Other favorable factors like appreciation in Indian Rupee against USD made scrap imports to India cheaper. Thus Indian importers actively booked bulk scrap import vessels in May’17.
Leave a Reply