Metal scraps are recyclable material left after manufacturing or consumption. Scrap is sold and is recycled to produce new material. Metal scrap originates from the manufacturing sector, construction business, households, hospitals, farms, and dumpsters. The basic metals which are recycled are:-
Presently the Indian government allows metal scrap imports if it does not contain any hazardous, toxic or radioactive material. Arms and ammunition, mines, live or used cartridges are also banned. Metal scrap import data shows India imports metal scrap material such as nickel, tin, aluminum, zinc, copper, and steel. Metal scrap import data is compiled from custom officials around various ports around India. It contains data present in the bill of materials in the shipping manifests.
The bill of material contains product information (product description and HS Codes), quantity, and price. The customs duty of the product is calculated based on the quantity and valuation of the scrap material.
India imported 1.37 tons of Aluminum in 2019. This has shown a significant increase from 1.27 tons in 2018. India recently overtook China as the world's largest aluminum scrap importer. Presently India levies 2.5% on aluminum scraps and 7.5% on aluminum and its raw material. The aluminum industry has requested the government to hike the imports on Aluminum scrap. Raising the import duty, the aluminum industry hopes to compete competitively with the aluminum scrap industry.
India imported 4.38 million tons of iron scraps. India is the third leading importer of iron scraps after Turkey and South Korea. India imposes 2.5% duties on iron scrap. Most of India’s imports are from the United States and Europe. The projection shows that iron imports may rise to 7.37 million tons of scrap.
Indian importers and industrialists are looking to the government to reduce the imports on copper scraps. The shutting down of the Sterlite plant in Tamil Nadu has raised the concern of shortfall for copper in the country.
Indian importers and industrialists are concerned about the high tariffs on brass scrap imports. The high price of brass scraps means the importers are facing losses. Brass scrap is used in the manufacture of brass ingots.
The metal scrap import data showed that Vizag Sea SEZ, Kandla SEZ, Madras EPZ, SEZ were the main ports where metal scrap was imported. The UAE was one of the largest suppliers of Metal scraps, followed by the UK and France.
Some leading Metal Scrap Importers in India are:-
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