According to the latest report published by Bureau of International Recycling (BIR), India overcomes Korea in the race of top scrap importers in H1-2015.
India which was the third largest scrap importer in 2014, becomes the second largest scrap importer in H1-2015, recording rise of 30% at 3.2 MnT against 2.4 MnT in H1-2014.
While, scrap imports in world’s two largest scrap importing nations, Turkey and Korea fell sharply by 13% and 35% respectively in H1-2015. The countries in first half imported 8.5 MnT and 2.8 MnT of scrap respectively.
Turkey and Korea contributed around 20% and 10% in total sea-borne scrap import (95-100 MnT) in 2014, respectively.
Alike India, Taiwan also witnessed slight rise in scrap imports by 4.8% to 2.8 MnT.
Scrap Importers (Qty in MnT)
| Countries | H1-2014 | H1-2015 | % Change |
| Turkey | 9.7 | 8.5 | -12.9 |
| India | 2.4 | 3.2 | 29.9 |
| Korea | 4.3 | 2.8 | -35.5 |
| Taiwan | 2.6 | 2.8 | 4.8 |
| USA | 2.1 | 1.9 | -12 |
| EU-28 | 1.5 | 1.4 | -11.9 |
| China | 1.3 | 1.3 | -2.4 |
| Indonesia | 1.1 | 0.5 | -53.6 |
Source: BIR
Scrap Exports also fall in H1-2015
Global Scrap prices have fallen sharply by around USD 150/MT in 2015, recording lowest in several years. This has led scrap suppliers and exporters to cut their production to 50%.
In consequence, scrap exports in H1-2015 from European Union (EU) region has dropped by 12.1% with total exports at 7.5 MnT. Similarly, in US exports fell by 9.1% to 6.9 MnT.
Leave a Reply