India imported total 524,600 MT of ferrous scrap in Feb’16, recording slight rise of 2.5% M-o-M. In the previous month (Jan’16), India imported about 510,000 MT ferrous scrap.
USA remained the highest scrap exporter to India in Feb’16 with total export of over 123,700 MT, recording a rise of 27% M-o-M; followed by UAE at 91,600 MT (+12%) and UK at 64,500 (-8.2%).
Meanwhile, Ludhiana ICD Port remained the highest scrap importer with 93,500 MT (+3.1%) M-o-M), followed by Chennai at 80,500 MT (+5.6%) and JNPT at about 77,100 MT (-3.6%).
India has imported about 5,740,000 MT (5.74 MnT) during 2015 (Jan-Dec’15).
Reasons for rise
Despite low booking during Jan’16 owing to MIP anticipations in India, scrap imports slightly improved. The bulk vessels booked during Dec-Jan’16 at Chennai and Kandla port of 27,200 MT and 26,400 MT arrived in the Indian coast during Feb’16, resulting to rise in imports.
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