According to customs data, India’s stainless steel scrap imports in July, 2022 stood at 84,608 tonnes (t), a decrease of 6% from 90,034 t in June.
Total imports from January to July this year are assessed at 690,770 t.
Series-wise imports
- 300 series stainless steel import volumes stood at 63,357 t in July, down 7% as against 68,102 t in June.
- 200 series imports were at 8,865 t, up 3% as against 8,568 t in the previous month.
- 400 series volumes stood at 10,150 t, down 10% as against 11,228 t in June.
- The most-traded 304 grade scrap imports decreased by 6% to 32,575 t in July as against 34,674 t in June.
- 430 grade scrap imports also decreased by 8% to 7,416 t in July as against 8,055 t in June.
- However, 201 grade scrap imports increased 10% m-o-m to 8,319 in July.Scrap import trend -Stainless steel scrap imports have clearly decreased in recent months. Imports in July were just 66% of the total quantity imported at the beginning of 2022. The main reasons for this downtrend are recent currency fluctuations and nickel price volatility.
Country-wise breakupUSA largest exporter: The United States was the largest exporter of stainless steel scrap to India in July, with 13,298 t, a decrease of 6% from 14,179 t the previous month. Malaysia and South Korea were the other major exporters, at 9,026 t and 7,612 t, respectively.Thailand exported 7,146 t in the month under review, while Vietnam and the UAE exported 7,129 t and 5,530 t, respectively.Way ahead
Stainless steel scrap imports have declined in recent months. As a result, there is scrap shortage in the domestic market. The cost of domestic scrap is rising. Given the expected resurgence in demand during the upcoming festival season and with infrastructure projects restarting, it appears that scrap demand in India is slated to increase.
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