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Kallanish Kallanish

Knowledge matters Knowledge matters

February, 25th 2021

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JAN 25
12:46

Indian scrap imports continue rebound

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Indian scrap imports rose 3% on-year in November 2020 to 512,284 tonnes, Kallanish notes from Indian commerce ministry provisional data. This was their second consecutive month of growth following four consecutive months of decline.

The average value of imported obsolete scrap under HS code 720449 was $318/tonne versus $302/t in November 2019.

Despite its apparent scrap export ban, United Arab Emirates was top supplier, with a 6% increase in overall scrap supply to 100,665t. The UK grew supply 61% to 83,189t but intake from the US fell -16% to 41,860t. Singapore-origin imports were flat at 29,102t but those from Brazil soared almost five-fold to 21,891t.

Indian crude steel output grew 3.5% on-year in November to 9.25 million tonnes, according to worldsteel data (see Kallanish passim).

In January-November Indian scrap imports still slumped -26% on-year to 4.87mt, with UAE, the US and UK the top suppliers in that order.