India: Stainless steel scrap imports rise over 15% m-o-m in Aug

According to customs data, India's stainless steel scrap imports in August, 2022 stood at 98,870 tonnes (t), an increase of 17% from 84,608 t in July.

Total imports from January to August 2022 this year are assessed at 789,641 t.

The resurgence in demand during the upcoming festival season and with infrastructure projects restarting, it appears that scrap demand in India has increased leading to rise in the volume of imports, SteelMint observed.

Series-wise imports

• 316 series stainless steel imports have witnessed the highest jump in volumes by 53% at 11,593 t in August as against 7,598 in July, 2022.
  
  
• 300 series stainless steel import volumes stood at 76,679 t in August, rising 21% as against 63,357 t in July.
  
  
• Notably, 200 series imports were at 7,601 t, down 14% as against 8,865 t in the previous month.
  
  
• 400 series volumes stood at 10,823 t, up 7% as against 10,150 t in July.
  
  
• The most-traded 304 grade scrap imports increased by 27% to 41,509 t in August as against 32,575 t in July.
  
  
• 430 grade scrap imports have decreased for the third consecutive month by 7% to 6,863 t in August as against 7,416 t in July.
  
  
• However, 201 grade scrap imports have also decreased 19% m-o-m to 6,717 in August.
  
  

Country-wise breakup

The US largest exporter: The US was the largest exporter of stainless steel scrap to India in August, with 13,990 t, an increase of 5% from 13,298 t the previous month.

Malaysia and Thailand were the other major exporters, at 9,111 t and 8,227 t, respectively.

South Korea has exported 6,402 t in the month under review, while Vietnam and the UAE have exported 5,993 t and 4,800 t, respectively.