In the month of March, ferrous scrap import to India jumped up by 26% against Feb’16 due to rise in bulk shipments.
India’s ferrous scrap import totaled about 662,000 MT in Mar’16, up by 26.1% in contrast to Feb’16. Prime reason was increase in bulk shipments by Indian importers, which was a result of MIP (Minimum Import Price) imposed by Indian government in Feb’16.
Of the total, the US supplied the largest quantity of 180,000 MT; UAE and UK are the second largest suppliers with each 90,000 MT scrap imported in Mar’16. In the meantime, Japan’s and Singapore supply volume topped to 40,000 MT (each country).
Chennai Port was the highest scrap importer with 180,000 MT , followed by Ludhiana ICD at 100,000 MT and JNPT at 90,000 MT in the same duration.
During Apr-Mar’16 (FY16), India’s ferrous scrap import totaled 6.18 MnT, moved up by 12.4% to 5.5 MnT from the same period of 2015.
Of the cumulative imports, US provided the largest amount of 1,140,000 MT; UAE the second largest of 900,000 MT and the UK the third largest of 850,000 MT. Thus, the three nations together accounted for 46.7% of the total.
India ferrous scrap import in FY16
| Country | Mar’16 | FY16 |
| United States | 180,000 | 1,140,000 |
| United Arab Emirates | 90,000 | 900,000 |
| United Kingdom | 90,000 | 850,000 |
| South Africa | 30,000 | 630,000 |
| Australia | 30,000 | 410,000 |
| Singapore | 40,000 | 350,000 |
| Brazil | 20,000 | 210,000 |
| Malaysia | 20,000 | 160,000 |
| Japan | 40,000 | 90,000 |
| Germany | 10,000 | 90,000 |
| Canada | 10,000 | 90,000 |
| New Zealand | 10,000 | 80,000 |
| Togo | 0 | 90,000 |
| Others | 1,10,000 | 10,80,000 |
| Total | 660,000 | 6,180,000 |
Quantity in MT
Source: Custom Data, SteelMint
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