United States ferrous scrap exports to India halved M-o-M whereas Jumped 50% Y-o-Y in Aug’17.
India world’s third-largest steelmaker has witnessed fall in its ferrous scrap imports in Aug’17 after four consecutive monthly hikes since Mar’17. As per recently released customs data, India imported 0.39 MnT ferrous scrap in Aug’17.The country has witnessed fall by 25% M-o-M against 0.52 MnT ferrous scrap imports in Jul’17.
On yearly comparison, imports have shown significant growth by 18% Y-o-Y in Aug’17 as the imports were 0.33 MnT in Aug’16.
India imported 3.15 MnT ferrous scrap during period Jan-Aug’17 which was summed at 4.02 MnT during the first eight months in CY16.Therefore, the country has seen 22% Y-o-Y fall in its ferrous scrap imports in Jan-Aug’17.
During first five months of FY18 (Apr-Aug’17) imports summed up at 2.06 MnT, down 12% against 2.33 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 up in Aug’17 –
The fall in scrap imports could be attributed to hike in imported ferrous scrap offers in July and August months. Monthly average offers for Dubai origin Imported HMS 1&2(80:20) scrap stood at USD 288/MT in Jul’17 which increased to USD 315/MT, CFR Nhava Sheva in Aug’17.While offers for USA origin Shredded scrap averaged at USD 318/MT in Jul’17 and moved up at USD 343/MT, CFR Nhava Sheva in Aug’17.
United States remained preferred scrap exporter to India –
During Jan-Aug’17, United States exported highest 0.52 MnT ferrous scrap to India. United Arab Emirates stood as a second largest exporter and supplied 0.43 MnT followed by third largest exporter United Kingdom with 0.39 MnT ferrous scrap exports to India. South Africa supplied 0.17 MnT while Australia exported 0.16 MnT ferrous scrap to India during first eight months in CY17.
Other prominent sources of ferrous scrap for Indian buyers during Jan-Aug’17 were – Hong Kong (0.13 MnT), Tanzania (0.12 MnT), Singapore (0.12 MnT) and Malaysia (0.11 MnT).
In Aug’17, United States supplied highest 0.06 MnT ferrous scrap which was halved M-o-M compared to 0.12 MnT exports in Jul’17.United Arab Emirates exported 0.05 MnT while
United Kingdom and Australia both exported 0.04 MnT ferrous scrap followed by South Africa with 0.02 MnT ferrous scrap exports to India in Aug’17.
Other major exporters of ferrous scrap to India were Hong Kong, Singapore and Malaysia in Aug’17.
Country-wise India ferrous scrap imports –
| Country | Aug’17 | Jul’17 | M-o-M % Change | Aug’16 | Y-o-Y % Change | Jan-Aug’17 | Jan-Aug’16 | % Change |
| United States | 0.06 | 0.12 | -50.00% | 0.04 | +50.00% | 0.52 | 0.80 | -35.00% |
| United Arab Emirates | 0.05 | 0.04 | +25.00% | 0.06 | -16.67% | 0.43 | 0.53 | -18.87% |
| United Kingdom | 0.04 | 0.07 | -42.86% | 0.05 | -20.00% | 0.39 | 0.66 | -40.91% |
| South Africa | 0.02 | 0.03 | -33.33% | 0.01 | +100.00% | 0.17 | 0.15 | +13.33% |
| Australia | 0.04 | 0.03 | +33.33% | 0.01 | +300.00% | 0.16 | 0.22 | -27.27% |
| Others | 0.18 | 0.23 | -21.74% | 0.16 | +12.50% | 1.48 | 1.66 | -10.84% |
| Total | 0.39 | 0.52 | -25.00% | 0.33 | +18.18% | 3.15 | 4.02 | -21.64% |
Quantity In MnT,
Source: SteelMint Stats
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