India world’s third largest steel maker has witnessed a marginal growth of 3% M-o-M in its ferrous scrap imports. The country imported 0.35 MnT in May’17 against 0.34 MnT in Apr’17. Imported scrap offers to India witnessed decline since 2nd week of May’17, resulting in higher import volumes.
However a drop in its ferrous scrap imports by 37% Y-o-Y in May’17 has been seen against 0.55 MnT imports in May’16.
During first five months of CY17, the ferrous scrap imports in India slide down 45% as the imports summed up to 1.58 MnT during Jan-May’17 against 2.88 MnT ferrous scrap imports in the same period of CY16.
United Arab Emirates accounted for the highest share in Indian scrap imports in CY17
United Arab Emirates has exported 0.26 MnT ferrous scrap till May’17, highest so far in CY17 Followed by the conventionally preferred exporter United States with 0.25 MnT exports during first five months of CY17. Other prominent sources of ferrous scrap for Indin buyers in CY17 were – UK, South Korea and Malaysia.
While, in May’17 United Arab Emirates and United kingdom accounted for the equal shares with 0.06 MnT ferrous scrap exports. Followed by other major exporters United States, South Africa, Malaysia, Singapore, Australia and Hong Kong contributed equal almost 0.02 MnT ferrous scrap in May’17.
|
Load Country |
May’17 | Apr’17 | M-o-M %Change | May’16 | Y-o-Y %Change | Jan-May’17 | Jan-May’16 |
% Change |
| United Arab Emirates | 0.06 | 0.07 | -14.28 % | 0.05 | 20 % | 0.26 | 0.39 | -33.33 % |
| United States | 0.02 | 0.03 | -33.33 % | 0.09 | -77.78 % | 0.25 | 0.58 | -56.89 |
| United Kingdom | 0.06 | 0.05 | 20 % | 0.11 | -45.45 % | 0.19 | 0.50 | -62 % |
| South Africa | 0.02 | 0.02 | 0 % | 0.01 | 100 % | 0.09 | 0.12 | -25% |
| Malaysia | 0.02 | 0.02 | 0 % | 0.01 | 100% | 0.08 | 0.07 | 14.28% |
| Others | 0.17 | 0.15 | 13.33 % | 0.28 | -39.28 % | 0.71 | 1.22 | -41.8% |
| Total | 0.35 | 0.34 | 2.94% | 0.55 | -36.36 % | 1.58 | 2.88 | -45 % |
Quantity In MnT
Source: SteelMint Stats
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