According to finalized customs data, India imported 5.29 million mt of ferrous scrap in 2018, up 16 percent from 4.57 million mt imported in 2017. The larger import increase was in H2 2018 with 2.87 million mt of scrap imported, up 23 percent compared to 2.34 million mt in the same period the previous year. The increase in H1 2018 was only up 8 percent compared to 2.23 million mt in the same period the previous year.
In 2018, scrap imports came from the UAE with 1.07 million mt, followed by the US with 0.59 million mt, Singapore with 0.40 million, South Africa with 0.37 million mt, Australia with 0.16 million mt, UK with 0.16 million mt, and 2.04 million mt from other countries.
Scrap from the US encountered a 20 percent decline year-on-year while totals from both the UK and Australia declined 27 percent each year-on-year. Scrap from the UAE increased its market share in India to 20 percent, as it increased 62 percent from 0.66 million mt last year to 1.07 million mt.
The US remains the largest scrap supplier in bulk cargoes.