India: Stainless steel scrap imports rise over 15% m-o-m in Nov'22

India's stainless steel scrap imports stood at 143,269 tonnes (t) in November 2022, up by 18% as against around 121,835 t in October 2022, according to Customs data.

Out of the total scrap scrap imports, non-Zurik was at 120,264 t whereas, Zurik scrap was at 23,005 t in the month under review.

The total imports from January to November this year stood at 1,153,610 t.

Imports by business types

Manufacturing businesses in India imported the maximum volumes of stainless steel scrap compared to the traders' shares of 31% in November.

Series-wise imports

• The 316 series stainless steel imports witnessed a hike in volumes by 41% at 20,703 t in November as against 14,675 in October 2022.
  
  
• The 300 series stainless steel import volumes stood at 108,558 t in November, up by 12% as against 95,554 t in October.
  
  
• Notably, the 200 series imports were at 12,947 t, up 16% as against 11,170 t in the previous month.
  
  
• The 400 series volumes stood at 14,892 t, significantly up by 33% as against 11,215 t in November.
  
  
• The most-traded 304 grade scrap imports increased by 12% to 63,343 t in November as against 56,790 t in October.
  
  
• The 430 grade scrap imports increased, after continuous decrease for four consecutive months, by 28% to 10,681 t in November as against 8,373 t in October.
  
  
• The 201 grade scrap imports increased 19% m-o-m to 11,316 in November.
  
  

Country-wise

• The US top exporter: The US continues to be the top exporter of stainless steel scrap to India in November at 20,302 t, an increase of 26% from 16,059 t in the previous month.
  
  

South Korea exports doubled last month to 16,899 t from 8,439 t in October due to absence of POSCO from the market, followed by the Netherlands with 8,650 t in November.