News and Events

According to data from the Ministry of Commerce and Industry of India, Indian scrap imports totaled around 780,000 tons in May, up by 5% compared to the same month a year ago, which showed that steel mills increased their purchase volume of raw materials to meet the export market, while the domestic demand was still sluggish. Although Indian scrap imports had a year-on-year increase, the country’s crude steel output in May fell by 39% year on year to 5.77 million tons. In the first five months of this year, Indian scrap imports dropped by 22% year on year to 2.54 million tons, and the UAE, the US, and the UK were the top three suppliers during the period.