Chinese demand for ferrous scrap is rising and imports are unlikely to meet the supply shortage in 2021, market participants told Fastmarkets this week.
India becoming dumping ground for aluminum scrap, especially from China, US
IANS
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India has been caught in a pincer by a torrent of cheap inflow of aluminum and scrap imports majorly from China as well as the United States.
In FY20, there has been a 327 per cent increase in the imports of aluminium scrap from US into India compared to the levels in FY15.
India has overtaken China as the world s largest importer of aluminum scrap, and the country has been adversely impacted due to recent global developments and US-China trade war further fuelled by China s National Sword Policy measures to cut Scrap Imports substantially with stringent scrap standards and inclusion in restricted list of imports, government quota for import, and 25 per cent tariffs aluminium Scrap imports from USA.