India’s imports of stainless steel scrap rose by 27pc in 2019 to 1.3mn mt. Imports, however, dropped by 7.5pc in Dec 2019 to 91,025mt, according to Davis Index analysis.
India imported 1.3mn mt of stainless steel scrap in 2019, up by 280,797mt from the previous year. The US continued to be the top supplier of stainless steel scrap and exported 199,773mt to India, up by 87,965mt or 78.7pc from the previous year. The UAE was the second-largest exporter and exported 120,8830mt of stainless steel scrap to India, up by 30,251mt or 33.4pc from 2018. Thailand, which was the third-largest supplier of stainless steel scrap to India in 2018, dropped to sixth place as exports dropped by 13,173mt or 16pc to 69,368mt.
In Dec 2019, India imported 91,025mt of stainless steel scrap, down by 7,416mt from 2018. The US was the top supplier, and exported 16,413mt of stainless steel scrap to India, down marginally by 25mt from the prior-year period. Imports from the Netherlands surged in Dec 2019, up by 6,882mt or 190.7pc to 10,491mt while imports from the UAE fell by 392mt or 5.5pc to 6,790mt from the prior-year period.
India is the largest importer of stainless steel scrap and will continue to be dependent on imported scrap until plans of setting up the country’s own auto shredders and recycling plants become a reality.