Author: Paul Ploumis20 Oct 2014 Last updated at 03:08:06 GMT
NEW DELHI (Scrap Monster): The scrap imports by India during the month of July this year increased marginally when compared with the previous month. However, the cumulative scrap imports by the country during initial seven-month period of the year were significantly down over the previous year.
According to trade data, India imported 529,000 tons of scrap during June this year. This is nearly 3% higher when compared with the imports of 514,000 tons during the previous month.
In July ‘14, the UK was the main exporter of scrap to India. The scrap imports from the UK totaled 85,000 tons, accounting for 16% of the total imports by India during the month. The scrap imports from the UK were down nearly 27% when compared with the imports during the same month a year ago.
The second largest source of scrap imports by India was South Africa. The scrap imports from South Africa during July ’14 totaled 77,000 tons, up by over 4% when compared with the previous month. The scrap imports from South Africa constituted 15% of Indian imports.
The UAE was the third largest ferrous scrap exporter to India during the month. The scrap imports from the region soared significantly higher during July ‘14. The UAE exported 73,000 tons of scrap into India. The scrap imports from the region surged higher by 51.7% when compared with the previous year.