United States ferrous scrap exports to India jumped 50% M-o-M and 100% Y-o-Y in Jul’17.
India world’s third largest steelmaker has witnessed rise in its ferrous scrap imports for the fourth consecutive month in Jul’17 since Mar’17. As per recently released customs data, India imported 0.52 MnT ferrous scrap in Jul’17.The country has registered 13% M-o-M rise against 0.46 MnT ferrous scrap imports in Jun’17.
As per customs data maintained with SteelMint, India has imported 2.75 MnT ferrous scrap during the period Jan-Jul’17. while ferrous scrap imports were summed at 3.69 MnT during the first seven months in CY16.Therefore, country has seen 25% Y-o-Y fall in its ferrous scrap imports in Jan-Jul’17.
On yearly comparison, imports have shown significant growth by 58% Y-o-Y in Jul’17 as the imports were 0.33 MnT in Jul’16. During first four months of FY18 (Apr-Jul’17) imports summed up to 1.67 MnT, down 17% against 2.00 MnT imports during the same time frame of the previous financial year(FY17).
Top Indian ports for ferrous scrap imports were Chennai, JNPT, Ludhiana, Kandla and Vizag.
United States remained preferred scrap exporter to India –
During Jan-Jul’17, United States exported highest 0.47 MnT ferrous scrap to India. United Arab Emirates stood as a second largest exporter and supplied 0.38 MnT followed by third largest exporter United Kingdom with 0.35 MnT ferrous scrap exports to India. South Africa supplied 0.15 MnT while Australia and Tanzania exported 0.12 MnT ferrous scrap each to India in first seven months in CY17.
Other prominent sources of ferrous scrap for Indian buyers during Jan-July in CY17 were – Hong Kong (0.11 MnT), Singapore (0.10 MnT) and Malaysia (0.10 MnT).
In Jul’17, United States supplied highest 0.12 MnT ferrous scrap up 50% M-o-M compared to 0.08 MnT exports in Jun’17. Followed by United Kingdom and United Arab Emirates with 0.07 MnT and 0.04 MnT exports respectively. South Africa and Australia exported 0.03 MnT each again in Jul’17 to India.
Other major exporters of ferrous scrap to India were Hong Kong, Singapore and Malaysia in Jul’17.
Imported ferrous scrap prices remained lifted in Jul’17 –
The rise in scrap imports could be attributed to fall in imported ferrous scrap offers towards last week of May’17. Monthly average offers for Imported HMS 1&2, Dubai origin scrap stood at USD 278/MT in Jun’17 which increased to USD 288/MT, CFR Nhava Sheva in Jul’17.While offers for USA origin Shredded scrap were stable at USD 297 /MT in Jun’17 and monthly averaged at USD 315/MT, CFR Nhava Sheva in Jul’17.
Country-wise India ferrous scrap imports –
| Country | Jul’17 | Jun’17 | M-o-M % Change | Jul’16 | Y-o-Y % Change | Jan-Jul’17 | Jan-Jul’16 | % Change |
| United States | 0.12 | 0.08 | +50% | 0.06 | +100% | 0.47 | 0.76 | -38% |
| United Arab Emirates | 0.04 | 0.06 | -33% | 0.04 | 0% | 0.38 | 0.47 | -19% |
| United Kingdom | 0.07 | 0.07 | 0% | 0.03 | +133% | 0.35 | 0.61 | -43% |
| South Africa | 0.03 | 0.03 | 0% | 0.01 | +200% | 0.15 | 0.14 | +7% |
| Australia | 0.03 | 0.03 | 0% | 0.01 | +200% | 0.12 | 0.21 | -43% |
| Others | 0.23 | 0.19 | +21% | 0.18 | +28% | 1.28 | 1.43 | -10% |
| Total | 0.52 | 0.46 | +13% | 0.33 | +58% | 2.75 | 3.69 | -25% |
Quantity In MnT,
Source: SteelMint Stats
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