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According to Mining News Pro - India world’s third-largest scrap importer after Turkey and South Korea has witnessed fall in its scrap imports in Sept’18. As per customs data, India imported 406,506 MT ferrous scrap in Sept’18, down 19% as against 499,948 MT recorded in Aug’18. On yearly premises, scrap imports decreased by 10% Y-o-Y as against 450,097 MT ferrous scrap in Sept’17.

Indian scrap imports hit almost 2 year high in Q3`CY18 - India imported 1.41 MnT ferrous scrap in Q3`CY18 which hit last 2 year high on a quarterly basis. Earlier to this, India had observed 1.67 MnT ferrous scrap imports during Q2`CY16. Scrap imports in Q3`CY18, increased 2% Q-o-Q as against 1.38 MnT in Q2`CY18 and increased 23% Y-o-Y as against 1.15 MnT during Q3`CY17.

UAE remained the largest scrap supplier to India in Sept’18 - UAE supplied highest 93,201 MT ferrous scrap (up 18% M-o-M) occupying 23% share in total scrap imports. UK remained second largest exporter and supplied 49,669 MT ferrous scrap (down 23% M-o-M) occupying 12% share. Singapore observed 30% M-o-M fall in scrap exports as it supplied 33,215 MT as against 47,204 MT in Aug`18 to India.

USA stepped down at the fourth largest supplier position supplying 32,036 MT in Sept’18, down 47% M-o-M as against 60,423 MT ferrous scrap in Aug’18. Followed by other prominent sources like South Africa (28,373 MT, -25% M-o-M), Togo (16,393 MT, +22% M-o-M) and Australia (5,593 MT, -84% M-o-M) in Sept’18.

Both imported and domestic scrap prices up in Sept’18 - The average price for USA origin Shredded scrap stood at USD 365/MT, CFR (up USD 10/MT M-o-M) in Sept’18 and HMS 1&2 from UAE increased to USD 345/MT, CFR (up USD 15/MT M-o-M) in Sept’18. Increased global prices resulted in keeping buying limited amid slowdown in activities.

While average domestic HMS (80:20) scrap prices in Sept’18 stood at INR 27,167/MT, ex-Mumbai, up INR 1807/MT (USD 25) M-o-M as against INR 25,360/MT, basic prices, GST @ 18% Extra. Easier availability of local scrap remained a preference amid depreciated INR against USD in the country.

Indian bulk scrap imports remained nil in Sept’18 & Oct’18 - India observed no vessel arrived at berth in last three successive months since August. Over seasonal slowdown, volatility in currency and dull finish steel demand, containerized scrap was preferred as buyers remained away from buying bulk imported scrap cargoes.

During first three quarters of CY18, India imported 3,822,129 MT ferrous scrap, up 6% Y-o-Y as against 3,596,505 MT during the same period last year. According to WSA, India`s crude steel production recorded at 79.66 MnT during Jan-Sept’18 as against 75.04 MnT last year, while recorded at 8.52 MnT in Sept`18, down 4% M-o-M as against 8.84 MnT in Aug`18.

Country-wise India ferrous scrap imports -

Country	Sept`18	Aug`18	% M-o-M Change	Sept`17	% Y-o-Y Change	Jan-Sept`18	Jan-Sept`17	% Y-o-Y Change
United Arab Emirates	0.09	0.08	12.50%	0.07	28.57%	0.75	0.51	47.06%
United States	0.03	0.06	-50.00%	0.07	-57.14%	0.51	0.59	-13.56%
United Kingdom	0.05	0.06	-16.67%	0.03	66.67%	0.40	0.42	-4.76%
Singapore	0.03	0.05	-40.00%	0.02	50.00%	0.30	0.14	114.29%
South Africa	0.03	0.04	-25.00%	0.03	-66.67%	0.24	0.21	14.29%
Australia	0.01	0.03	-66.67%	0.03	-66.67%	0.14	0.2	-30.00%
Others	0.17	0.18	-5.56%	0.20	-5.00%	1.48	1.52	-2.63%
Total	0.41	0.50	-18.00%	0.45	-8.89%	3.82	3.59	6.41%

Quantity in MnT,

Source: SteelMint Stats