India world’s third-largest scrap importer after Turkey and South Korea has witnessed rise its ferrous scrap imports by 46% in Q3 CY17 on comparison against imports during Q3 CY16. India imported 1.36 MnT ferrous scrap in Q3 CY17 against 0.93 MnT ferrous scrap imports in Q3 CY16, while imports have grown by 18% Q-o-Q against 1.15 MnT imports in Q2 CY17.
As per recently released customs data, India imported 0.45 MnT ferrous scrap in Sept’17.The country has witnessed rise by 15% M-o-M against 0.39 MnT ferrous scrap imports in Aug’17.
On yearly comparison, imports have shown significant growth by 67% Y-o-Y in Sept’17 against 0.27 MnT ferrous scrap imports in Sept’16.
India imported 3.60 MnT ferrous scrap during period Jan-Sept’17 which was summed at 4.29 MnT during the first nine months in CY16.Therefore, the country has seen 16% Y-o-Y fall in its ferrous scrap imports during Jan-Sept’17.
During the first half of FY18 (Apr-Sept’17) imports summed up at 2.51 MnT, down marginally 3% against 2.60 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.
Imported ferrous scrap prices moved down in Sept’17 – The rise in scrap imports could be attributed to fall in imported ferrous scrap offers towards the second half of September month. Monthly average offers for Dubai origin Imported HMS 1&2(80:20) scrap stood around USD 319/MT in Aug’17 which fell to USD 307/MT, CFR Nhava Sheva in Sept’17. While offers for USA origin Shredded scrap averaged at USD 343/MT in Aug’17 and moved down around USD 338/MT, CFR Nhava Sheva in Sept’17.
United States remained preferred scrap exporter to India –
During Jan-Sept’17, United States exported highest (0.59 MnT, -29% Y-o-Y) ferrous scrap to India. Followed by United Arab Emirates (0.50 MnT, -14% Y-o-Y) and United Kingdom (0.41 MnT, -42% Y-o-Y) with second and third largest exporter places of ferrous scrap to India respectively during first three quarters in CY17.
Other prominent sources of ferrous scrap for Indian buyers during Jan-Sept’17 were – South Africa (0.20 MnT), Australia (0.19 MnT), Hong Kong (0.16 MnT), Malaysia (0.13 MnT), Singapore (0.14 MnT) and Tanzania (0.12 MnT).
In Sept’17, United States supplied highest (0.07 MnT, +17% M-o-M) ferrous scrap to India. United Arab Emirates exported 0.07 MnT (+40% M-o-M). While United Kingdom, South Africa, Australia, China and Hong Kong exported each 0.03 MnT ferrous scrap to India in Sept’17.
Country-wise India ferrous scrap imports –
| Country | Sept’17 | Aug’17 | M-o-M % Change | Sept’16 | Y-o-Y % Change | Jan-Sept’17 | Jan-Sept’16 | % Change |
| United States | 0.07 | 0.06 | +16.67% | 0.03 | +133.33% | 0.59 | 0.83 | -28.92% |
| United Arab Emirates | 0.07 | 0.05 | +40.00% | 0.05 | +40.00% | 0.50 | 0.58 | -13.79% |
| United Kingdom | 0.03 | 0.04 | -25.00% | 0.04 | -25.00% | 0.41 | 0.70 | -41.43% |
| South Africa | 0.03 | 0.02 | +50.00% | 0.01 | +200.00% | 0.20 | 0.16 | +25.00% |
| Australia | 0.03 | 0.04 | -25.00% | 0.01 | +200.00% | 0.19 | 0.23 | -17.39% |
| Others | 0.22 | 0.18 | +22.22% | 0.13 | +69.23% | 1.71 | 1.79 | -4.47% |
| Total | 0.45 | 0.39 | +15.38% | 0.27 | +66.67% | 3.60 | 4.29 | -16.08% |
Quantity In MnT,
Source: SteelMint Stats
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