News Room - Steel Industry

Posted on 06 Aug 2024

India's scrap imports decline over 25% in H1CY'24. Short term may remain dull

• Domestic scrap cheaper by over INR 4,500/t
• Red Sea crisis raises freights, logistics costs
• Turkiye, Bangladesh look more attractive to sellers

Morning Brief: India's ferrous scrap imports declined by 26% in the first half of calendar 2024 (H1CY'24) to around 4 million tonnes (mnt) against 5 mnt recorded in the same period in CY'23, reveals data maintained with BigMint.

Data also showed, the most imported commodity was HMS at 2 mnt in H1, marking a drop of 22% as against 3 mnt seen in the same period last year. Shredded followed at 0.69 mnt (down 40% y-o-y), while light meltin

Source:BigMint