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India's Scrap Imports Plunged by One-Third During Jan-Apr

iconJul 31, 2017 17:50
The largest exporter of scrap to India during the month was the UAE. The imports from the UAE totaled 77,620 tons, rising significantly by nearly 32% over the imports of 58,678 tons in March.

By Anil Mathews

NEW DELHI (Scrap Monster): The recent trade statistics published by the Indian Directorate General of Commerce Intelligence and Statistics (DGCI&S) under the Ministry of Commerce indicates steep decline in ferrous scrap imports by the country during the first four months of the current year. The combined imports dropped sharply by more than one-third when compared with the previous year.

The imports during the month of April totaled 419,789 tons. This is significantly higher when matched with the month before that. The country’s ferrous scrap imports had totaled 342,572 tons during March this year. The imports have registered month-on-month increase for the first time in 4 months.

The largest exporter of scrap to India during the month was the UAE. The imports from the UAE totaled 77,620 tons, rising significantly by nearly 32% over the imports of 58,678 tons in March. However, the imports from the UAE dropped sharply by 14% over the same month a year before. In second place was the UK. The imports from the UK totaled 49,018 tons during the month, rising considerably from imports of 32,402 tons in March 2017. The USA exported 32,965 tons of scrap to the country, thereby emerging as the third largest supplier. The imports from the US recorded sharp decline when compared with 50,418 tons in March this year. The other primary suppliers of ferrous scrap to India were Malaysia (24,049 tons), Singapore (20,083 tons), Hong Kong (19,030 tons), Sweden (18,179 tons) and South Africa (17,613 tons).

The combined scrap imports during the initial four months of 2017 totaled 1.712 million tons. The imports during the period recorded 33.6% decline over the year. The imports had totaled 2.577 million tons during the corresponding four months in 2016. As a result, the monthly scrap imports averaged 428,000 tons. Going by the current rate, the country’s ferrous scrap imports are likely to total around 5.136 million tons.

The US was the leading scrap exporter to India during Jan-Apr ’17. The imports from the US totaled 258,752 tons, accounting for over 15% share of total imports by the country during the four-month period. However, the imports plunged by 46% over the previous year. The US ferrous scrap exports to India had totaled 479,478 tons, accounting for 18.6% share in Jan-Apr ’17.

The UAE accounted for 14.8% share of Indian scrap imports. The imports from the country totaled 253,225 tons as compared with 395,237 tons during the same period last year. The imports tumbled by nearly 36% year-on-year. In third place was the UK with imports of 164,122 tons. The imports from the UK too recorded 56.6% decline over the previous year.

Japan reported sharpest decline in exports to India over the year. The imports from Japan were down by 86.9% over the previous year from 51,637 tons to 6,775 tons. On the other hand, imports from Tanzania skyrocketed by 3,570% during the four month period to 111,769 tons. The imports from that country had totaled only 3,046 tons in Jan-Apr ’17.

Scrap Metal

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