United States ferrous scrap exports to India jumped four times in Jun’17.
India world’s third largest steel maker has witnessed fall of 34 % in ferrous scrap imports during first half of CY17. As per recent customs data maintained with SteelMint, India has imported 2.23 MnT ferrous scrap during H1 CY17 as ferrous scrap imports were 3.36 MnT during the H1 in CY16.
However, country has registered rise of 31% M-o-M in Jun’17 as imports were 0.46 MnT in Jun’17 against 0.35 MnT ferrous scrap imports in May’17.
On yearly comparison, imports showed marginal fall of 5% Y-o-Y in Jun’17 as the imports were 0.48 MnT in Jun’16. During Q2 of CY17 (Apr-Jun’17) imports summed up to 1.15 MnT, up 32 % against 0.87 MnT imports during Q1 of CY17 (Jan-Mar’17) .
Top Indian ports for ferrous scrap imports were Chennai, JNPT, Ludhiana, Kandla and Vizag.
United States emerged as preferred scrap exporter to India-
United States and United Arab Emirates exported highest and equal share with 0.34 MnT ferrous scrap during the first half of CY17. Third largest exporter United Kingdom supplied 0.28 MnT followed by South Africa and Tanzania with 0.12 MnT exports each.
Other prominent sources of ferrous scrap for Indian buyers in H1 CY17 were – Malaysia (0.09 MnT),Australia (0.09 MnT), Singapore (0.09 MnT), Hong Kong (0.08 MnT) and Sweden (0.05 MnT).
In Jun’17, United States supplied highest 0.08 MnT ferrous scrap to India compared to 0.02 MnT in the previous month. Followed by United Kingdom and United Arab Emirates with 0.07 MnT and 0.06 MnT exports respectively. South Africa and Australia exported 0.03 MnT each in Jun’17.
Other major exporters of ferrous scrap to India were Singapore, Hong Kong, Malaysia and Sweden in Jun’17.
Imported ferrous scrap prices remained rangebound in Jun’17-
Imported ferrous scrap offers for HMS 1&2, Dubai origin were hovering in the range of USD 275-290 /MT, CFR Nhava Sheva during Jun’17.While offers for shredded,USA origin were most stable at USD 297 /MT, CFR Nhava Sheva throughout the month.
Country-wise Indian ferrous scrap imports-
| Country | Jun’17 | May’17 | M-o-M % Change | Jun’16 | Y-o-Y % Change | Jan-Jun’17 | Jan-Jun’16 | % change |
| United Arab Emirates | 0.06 | 0.06 | 0% | 0.04 | +50% | 0.34 | 0.43 | -21% |
| United States | 0.08 | 0.02 | +300% | 0.12 | -33.33% | 0.34 | 0.70 | -51.42% |
| United Kingdom | 0.07 | 0.06 | +16.67% | 0.08 | -12.50% | 0.28 | 0.58 | -51.72% |
| South Africa | 0.03 | 0.02 | +50% | 0.01 | +200% | 0.12 | 0.13 | -7.70% |
| Malaysia | 0.01 | 0.02 | -50% | 0.01 | 0% | 0.09 | 0.09 | 0% |
| Others | 0.21 | 0.17 | +23.52% | 0.22 | -4.54% | 1.06 | 1.43 | -25.88% |
| Total | 0.46 | 0.35 | +31.42% | 0.48 | -4.16% | 2.23 | 3.36 | -34% |
Quantity In MnT ,
Source: SteelMint Stats.
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