April’13: India’s Ferrous Scrap imports down by 20% M-o-M

In April’13 India Ferrous Scrap import (under chapter-7204) fall down by 20%. India imported ferrous scrap approx qty 4, 40,000 MT that is down from March’13 import of qty 5, 50,000 MT and it is likely to fall in current month due to –

1)    High Imported scrap prices as compare to Domestic scrap

2)    Low steel prices and increase production cut

3)    Sponge iron availability improved in central India.

India imported ferrous scrap breaks up country wise are –

•         From United Arab Emirates: qty 80,000 MT, down by 15% from previous month 

•         From South Africa: Qty 70,000 MT that is down by 35% from previous month

•         United Kingdom Qty 63,000 MT down by 14% from previous month

Chennai the south eastern port of India received qty 98,000 MT which is down from March’13 import qty received at 1,50,000 MT, Ludhiana ICD port received Qty 97,000 MT. The west coast JNPT and Kandla received qty 94,000 MT and 31,000 Mt respectively. As per the custom data release.