India postpones scrap import legislation

Archiv – Due to come into force in April, stricter rules governing India�s imports of ferrous scrap will now take effect in October this year. Due to come into force in April, stricter rules governing India�s imports of ferrous scrap will now take effect in October this year. The new regulations require suppliers to register with the government and are designed to prevent imports of, notably, munitions-type scrap.
The Indian government has postponed the introduction of the new rules following pressure from traders confronted with significant amounts of paperwork. Purchases of scrap metal had begun to slow after the government said it would tighten rules from April. A Malaysian metal supplier, who did not want to be identified, said his sales of scrap to India had dropped by nearly a third since the new rule was planned. He was now hopeful that business would pick up with the deadline extension.
India�s fast-growing economy has spurred consumption of metals and generated a greater need for scrap. Currently, the country has a uniform policy for importing iron, steel, tungsten, molybdenum, copper, brass, nickel, aluminium, zinc and tin scrap. The only condition is that scrap must not contain any type of arms, radioactive contaminant or any other explosive material.