Indian scrap imports decline in H1 due to COVID-19
15 Sep 2020 16:03 reported by Isora
Data reported by the Indian Custom, India imported a total of around 2.8 million tons of steel scrap in the first half of this year, a 27% fall year on year. The crucial reason for the import decline was the outbreak of COVID-19.
According to the prediction, the 2020 annual scrap imports should be about 5.7 million tons.
In fact, such demand decline of material imports did correspond with the production reduction of the Indian steel manufacturers, which was one of the results caused by the worldwide spreading of the coronavirus.
Meanwhile, the mentioned disease surely has brought a severe economic crisis to India.
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