07-Aug-2024
Key Highlights
In the first half of 2024, India copper imports scrap fell by 7% year over year to over 135,000 metric tons.
As per copper scrap import data, the UAE, Germany, and the United States were the leading exporters to India.
India raised its imports of copper items by 3% in April 2023, primarily due to the demand from the renewable energy and electric car industries.
Copper scrap import in India total USD 52 billion, with an approximate export value of USD 42 billion.
Major copper importers in India include China, India, the US, Germany, and Japan; major exporters are the US, Chile, Germany, Belgium, and Thailand.
Lists of documents required for import of copper scrap in India are MSTC NOC, an environmental clearance, a hazardous waste authorisation, a BIS registration, an import-export code, copper importers, exporters, HS codes, and copper scrap import-export data.
As we know, India is a big player in the copper scrap industry because it is one of the biggest copper buyers and suppliers. To suit its industrial needs, the nation buys and exports copper scrap. Also, India leads the world in the import of copper scrap. Due to the country's limited domestic resources and growing demand for copper, it is becoming more and more dependent on imported scrap to meet its industrial demands.
In this blog, we will explore the complexities of India copper imports scrap and offer crucial insights on copper export from India, copper scrap import in India, copper scrap import data, copper scrap export data, and its updated HS codes.
Indeed, one of the most profitable business prospects in India is the copper scrap industry.
The high-value metal copper (symbol Cu) is used for many things, from building materials to electrical wire. Because of its versatility, it is also one of the metals that can be recycled the easiest in the world.
However, demand, market circumstances, and recycling prices all affect how profitable certain types of scrap materials are. Many people consider copper, brass, and aluminium to be more profitable metals because of their higher market values.
The market for copper scrap is substantial and still growing.
However, there are several reports that show noteworthy growth forecasts:
The global copper scrap market was valued at US$ 62.47 billion in 2023 and is expected to grow at a CAGR of 9.24% from 2024 to 2033. It will surpass US$ 151 billion by 2023.
One reason for the expansion of the copper scrap market is the rising quantity of electrical, building, and automobile parts.
The dynamics of supply and demand, as well as the state of the world economy, can affect copper prices.
However, copper scrap cleaning, sorting, and preparation costs have an impact on profitability. So, the copper scrap business can be successful overall, but before making any investments, it is important to carefully analyse all the options.
India holds a prominent position in the worldwide market for copper scrap.
The position of India is broken out as follows:
About 38% of India's copper demand can be covered by scrap copper.
India still only processes 1% of its scrap for secondary smelting and refining, far less than the 32%, 30%, and 16% of the EU, Japan, and other leading economies.
For India to achieve its goals of industrial, economic, and sustainable growth, copper is also essential for the development of new clean energy technologies like electric cars, electric motors, wind turbines, solar panels, and battery storage.
Now, it’s time to explore India copper imports statistics!
In the first half of 2024, the imports of copper scrap into India decreased by 7% year over year to approximately 135,000 t from 145,500 t during the same period in the financial year 2023.
The total import of copper scrap into India in 2023 was 3,06,700 metric tonnes.
The United States, UAE, and Germany were the top exporters of copper scrap to India.
The most common types of copper scrap that are imported into India are druid, berry, brass honey, and birch.
A slight increase in copper imports in April 2023
In FY23, India copper imports bill increased by more than 20 percent year over year to ?27,131 crore from ?21,985 crore. This increase was attributed to increasing demand, particularly in the electric car and renewable energy segments, during the post-Covid economic recovery.
In April 2023, India copper imports of semi-finished, finished, and scrap copper products totalled 95,547 tonne (t), an increase from 92,799 t in March. Imports went up by 3%.
Import value: Based on copper scrap import data, the import value of copper scrap is roughly USD 52 billion, according to import data.
Export value: According to copper scrap export data, around USD 42 billion (calculated using data from several sources)
Top importers: China, India, the United States, Germany, and Japan are the top importers, according to data on cotton scrap importers.
Top Exporters: United States, Chile, Germany, Belgium, and Thailand are the top exporters.
In terms of copper import data,
Based on copper import data, 1,947 Indian importers sourced from 6,444 suppliers for a total of 99.6K worth of copper scrap shipments into India.
Nonetheless, India is the world's largest importer of copper scrap, obtaining the majority of its supply from Saudi Arabia, the United Arab Emirates, and the United States.
Additionally, with 99,563 shipments, India is the top importer of copper scrap, followed by Pakistan (62,173) and Vietnam (56,978 shipments), in third place.
Copper scrap exports from India amounted to 2.7K, transported by 124 Indian exporters to 327 purchasers, according to data on cotton waste exports.
China, Germany, and France are the top destinations for India's copper scrap exports, according to data from copper scrap exporters.
With 144,131 shipments, the United States leads the world in copper scrap exports. Vietnam comes in second with 66,314 loads, while Saudi Arabia comes in third with 42,706.
Now, explore the list of copper scrap importing countries
Here is the updated table for copper scrap importing countries!
|
Top Rank |
Copper Scrap Importing Countries |
Copper scrap import data (in 1000 metric tons) |
|
1 |
China |
1,985.2 |
|
2 |
Germany |
496.8 |
|
3 |
India |
310.7 |
|
4 |
South Korea |
305.3 |
|
5 |
Belgium |
277.5 |
|
6 |
Japan |
211.4 |
|
7 |
Spain |
159 |
|
8 |
Italy |
158.6 |
|
9 |
Poland |
153.6 |
|
10 |
USA |
118.3 |
So, China is considered the largest importer of copper scrap, with an import value of 1,985.2 million metric tonnes. Germany, India, and South Korea are some of the biggest exporters of copper scrap. However, if you are looking for India copper imports, copper importers in India, copper export from India, or copper scrap HS codes, connect with ExportImportData.in and gain real-time global trade data.
Now, explore the list of copper scrap exporting countries
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Here is the updated table for copper scrap exporting countries!
|
Top Rank |
Copper Scrap Exporting Countries |
Copper scrap export data (in 1000 metric tons) |
|
1 |
USA |
880.3 |
|
2 |
Japan |
374.98 |
|
3 |
Germany |
368.19 |
|
4 |
France |
262.33 |
|
5 |
UK |
237.74 |
|
6 |
Italy |
196.82 |
|
7 |
Netherland |
187.62 |
|
8 |
Thailand |
175.83 |
|
9 |
Soudi Arabia |
157.43 |
|
10 |
Spain |
138.44 |
So, the USA is considered the largest exporter of copper scrap, with an import value of 880.3 million metric tonnes. Japan, Germany, and France are some of the biggest exporters of copper scrap. However, if you are looking for India copper export statistics, copper importers in India, or copper export from India, connect with ExportImportData.in and obtain real-time global trade data.
To import copper scrap into India, several licenses are required:
1. Import-Export Code (IEC): All importers and exporters in India must obtain an IEC number from the Directorate General of Foreign Trade (DGFT).
2. Environmental Clearance: Importers of copper scrap must obtain an environmental clearance certificate from the Ministry of Environment, Forestry, and Climate Change (MoEFCC) or the relevant State Pollution Control Board.
3. Hazardous Waste Authorization: Since copper scrap is classified as hazardous waste, importers must obtain authorization from the Central Pollution Control Board or the relevant State Pollution Control Board under the Hazardous and Other Wastes (Management and Transboundary Movement) Rules.
4. Bureau of Indian Standards (BIS) Registration: Copper scrap imports must conform to the BIS standards, and importers must obtain BIS registration before importing.
5. No Objection Certificate (NOC): Importers must obtain an NOC from the Metals Scrap Trade Corporation (MSTC), a Government of India enterprise, before importing copper scrap.
Additionally, the import of copper scrap is subject to policies, quotas, and tariffs set by the Indian government, which may change from time to time. Importers should verify the latest regulations with the relevant authorities before beginning the import process. Also, if you need updated statistics on copper export from India or copper importers in India, connect with our platform today.
Finding accurate copper scrap import and export data is a difficult task. ExportImportData.in provides valuable copper importers lists, copper exporters lists, HS codes, and copper scrap import export data by country or copper export from India.
One of the most significant market research sites is ExportImportData.in, where you can easily and quickly obtain a global market report.
Final words!
In order to effectively analyse India copper imports, one must possess a thorough awareness of international trade norms, rules, and market dynamics. Businesses can improve their prospects of success in this industry by carefully weighing the elements covered in this blog. However, our team of experts will help you comprehend the current market, trends, and insights and grow your business in the international trade arena if you need updated statistics on copper scrap import and export from India, copper importers in India, or the HS Code for copper scrap. Get a free live demo right now!
Copper Export from India
Copper Scrap Importers
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As per copper scrap export data, India sources the majority of its copper scraps from the United States, Saudi Arabia, and the United Arab Emirates.
As per copper import data, India is the 3rd largest copper ore importer, import copper primarily from Indonesia, Chile, Australia, Peru, and Panama.
The copper scrap import duty in India is 2.5% which was around 5% earlier. It is reduced to boost the copper’s recycling in the country.
China, Germany, and France are the top destinations for India's copper exports, according to data from copper export from India.
The United States exported over 880 thousand metric tons of copper waste and scrap in 2023, making it the largest exporter of this material worldwide.
Yes, copper export from India is a profitable opportunity for the traders. To gain updated statistics on copper exports from India, please visit our dashboard.
India is the world's top importer of copper scrap, sourcing the majority of its supply from the United States, Saudi Arabia, and the United Kingdom.
