India’s imports of stainless steel scrap rose by 11.4pc in November, from a year ago ahead of Indonesia’s ban on nickel exports starting January 2020.
India imported 115,733mt of stainless steel scrap in November, up by 11,838mt from a year ago. Shipments into India picked up in November after mills restarted buying after a period of destocking in October.
The US exported 17,280mt of stainless steel scrap to India in November, up from 11,426mt from a year ago. The US continued to be the top supplier, followed by the UAE, which exported 8,244mt of stainless steel scrap to India, up from 8,118mt a year ago. Imports from the Netherlands also rose to 7,746mt from 4,026mt from a year ago.
From Jan-Nov 2019, India’s imports of stainless steel scrap rose by 30.5pc to 1.23mn mt of stainless steel scrap in this period, up by 288,205mt from the prior year. The US was again the top supplier, and exported 183,360mt, up from 95,370mt from the prior year. Imports from the UAE also rose to 114,040mt from 83,397mt, and imports from Singapore rose to 74,623mt from 61,137mt.