Indian Ferrous Scrap Import Fall 12% in June 2016

The Indian imports of ferrous scrap registered sharp decline month-on-month during Jun’16.

As per the recent data maintained by SteelMint, the ferrous scrap imports by India during the month of Jun’16 dropped sharply (12%) over the previous month. It is the third consecutive month that the steel scrap imports have noticed a downfall.

The country’s total scrap imports during Jun’16 amounted to 481,500 MT. The imports were down sharply by 12% as compared to May’16, which were recorded at 549,200 MT. Indian Scrap Imports for a period of Jan-Jun’16 totaled 3,365,500 MT.

During Jun’16, US was the largest scrap exporter to India. The scrap imports from US totaled 120,430MT, accounting for more than 20% of the country’s total scrap imports.

The second largest exporter of scrap to India was the UK. The scrap imports by the country from the UK totaled 110,221 MT. In third place was UAE with supply volume of 41,727 tons.

Indian ferrous scrap import during May’16 & Jun’16

Quantity in MT
Source: Custom Data, SteelMint