Indian Scrap Imports up by 6% in H1 FY15

Import of Ferrous Scrap in India has registered a growth of 6% in H1 FY15 and expected to reach 5.5 MnT in the current fiscal.

Total ferrous Scrap imports during Apr’14-Sep’14 (H1 FY15) have touched 2.66 MnT. Last year, Scrap imports in H1 was around 2.50 MnT. However, imports fell to 1.50 MnT in H2 FY14. Amid uncertainties in Iron ore and coal mining sector, industry experts anticipate that Scrap imports will reach at around 2.5-3 MnT in Oct’14-Mar’15 (H2 FY15) and touch a total figure of 5-5.5 MnT in FY15.

As per data maintained by SteelMint, among Indian ports, Ludhiana ICD leads this time with highest Scrap import at around 0.64 MnT in H1 FY15. It had imported around 0.47 MnT in H1 FY14.

Southern region (Karnataka, Andhra Pradesh, Telangana, Kerala and Tamil Nadu) is on the top with highest imports at 0.93 MnT in H1 of this fiscal year. Ferrous Scrap in Chennai alone stood at 0.58 MnT during this period.

Scrap imports in western India stood at 0.81 MnT. Preference for Scrap imports from Middle East countries remain high owing to proximity and zero freight cost. Out of total import of 0.42 MnT, imported in JNPT; imports from Middle East alone were 0.18 MnT.

All figures in MT

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