India’s Ferrous Scrap Imports Fall by 13% y-o-y in CY’21

India’s ferrous scrap imports dropped to a six-year low in 2021. The volumes dropped 13% to 3.78 million tonnes (mnt) last calendar against 4.33 mnt in 2020. The highest volumes arrived from the UAE, at 1.07 mnt, up 43% y-o-y. However, share of other traditional destinations like the UK and USA saw substantial drop. It was mainly the sharp drop from UK and USA that dragged down overall volumes. For instance, shipments from UK saw a 49% y-o-y decline in 2021 while those from USA dropped 40%.