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India becomes 2019 largest importer of scrap in Asia
Date: 18-02-2020 00:00:00

According to the report, the amount of Indian scrap import increased by 11.41% to 7.05 million tons in 2019, which exceeded Vietnam and South Korea to become the largest importing country of scrap in Asia. Among them, the European supplier benefited from increased Indian scrap demand. India was exported almost 1.2 million tons of scrap to the United Arab Emirates in 2019, which became Asia’s largest export country. In addition, the total exports of scrap from the US to India had increased by 9.3% year on year, achieved 767,000 tons. The World Steel Association (worldsteel) indicated that the total crude steel production in India had increased by 1.8% to 111 million tons in 2019, driving up consumption of raw materials. Due to the increasing consumption of steel in domestic, the market expected that the imports of scrap in India would keep increasing in 2020.

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