Indian Ferrous Scrap Imports Stable in January
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India world's third-largest scrap importer after Turkey and South Korea, has witnessed stability in monthly scrap imports in January. India imported 339,020 MT ferrous scrap in Jan'18 as against 332,586 MT ferrous scrap imports in Dec'17. However, on yearly comparison, imports declined 19% Y-o-Y as against 417,753 MT ferrous scrap imports in Jan'17.
High global prices compared to domestic scrap prices kept away Indian mills from importing scrap in large volumes. Major exporters like UAE, South Africa and Australia witnessed significant rise 26%,18% and 43% respectively while USA recorded 36% fall in scrap exports to India in January on M-o-M basis against exports in December.
Top Indian ports for ferrous scrap import activities were Kandla, Chennai, JNPT and Vizag.
Imported scrap prices increased sharply in Jan'18 - The monthly average price for USA origin Shredded scrap to India stood at USD 373/MT, CFR which was increased by upto USD 25/MT against an average of USD 358/MT, CFR in Dec'17. Likewise, prices for HMS 1&2 from Middle East increased by 15/MT, from an average around USD 330/MT in Dec'17 to USD 345/MT, CFR in Jan'18. Amid high scrap offers and cheaper availability of domestic scrap, Indian steel mills remain preferring domestic scrap over imported.
United Arab Emirates remained largest scrap exporter to India -
In Jan'18, UAE supplied highest 79,936 MT ferrous scrap while USA supplied 31,203 MT ferrous scrap occupying 24% and 9% share in total scrap imports to India respectively. Followed by other major exporters like South Africa, United Kingdom and Australia with 24,202 MT, 20,422 MT and 14,940 MT ferrous scrap respectively. While Australia, Singapore, Hong Kong and Malaysia exported 0.01 MnT ferrous scrap in Dec'17 respectively.
Other prominent sources of ferrous scrap to India in Jan'18 were Singapore (14,940 MT), Togo (12,684 MT), Hong Kong (10910 MT), Malaysia (10,499 MT), and China (9,048 MT).
Country-wise India ferrous scrap imports -
| Country | Jan'18 | Dec'17 | M-o-M % Change | Jan'17 | Y-o-Y % Change |
| United Arab Emirates | 79,936 | 63,251 | 26.38% | 45,729 | 74.80% |
| United States | 31,203 | 48,741 | -35.98% | 111,509 | -72.02% |
| South Africa | 24,202 | 16,906 | 43.16% | 16,499 | 46.69% |
| United Kingdom | 20,422 | 19,597 | 4.21% | 53,176 | -61.60% |
| Australia | 14,940 | 12,674 | 17.88% | 12,989 | 15.02% |
| Others | 168,317 | 171,417 | -1.81% | 177,851 | -5.36% |
| Total | 339,020 | 332,586 | 1.93% | 417,753 | -18.85% |
Quantity in MT
Source: SteelMint Stats
