India overtook South Korea as the world’s second-largest ferrous scrap importer in the first half of 2019, to the benefit mainly of suppliers in the UK and United Arab Emirates.

Indian scrap imports in H1 surged 35% on-year to 3.87 million tonnes, with top two suppliers UAE and UK increasing shipments to India 27% and 117% respectively to 711,544t and 530,104t, according to Indian commerce ministry data. However, the US supplied -7% less at 301,330t (see separate Kallanish article).

Indian crude steel production in the period rose 5% to 56.96mt, according to worldsteel data.

South Korea, meanwhile, increased scrap intake 11% in H1 to 3.63mt, according to South Korean Customs data. Intake from Japan was flat at 2.2mt. Imports from the US almost trebled to 689,876t, as US suppliers turned to South Korea to offset the drop in demand from the world’s largest exporter, Turkey. Scrap imports from Russia, meanwhile, fell -20% to 388,132t.

South Korean crude steel output in H1 rose 1.1% to 36.45mt.

Turkey’s economic slowdown, meanwhile, coupled with lacklustre demand for its rebar exports, resulted in the country reducing scrap imports by -16% in H1 to 9.01mt. This was to the detriment mainly of suppliers in the US, UK, Russia and Belgium.

Intake from the US declined -18% to 1.62mt, but imports from the Netherlands rose 5% to 1.24mt. Intake from the UK fell -24% to 1.12mt. Russia-origin intake slumped -27% to 969,967t and supply from Belgium dropped -43% to 628,131t.

Turkish crude steel output in H1 fell -10.1% to 16.99mt.

India recently published its draft steel scrap policy that aims to promote scrap processing to supply the projected shift towards electric arc furnace and induction furnace-based steelmaking (see Kallanish passim).