INDIA April 09 2015 11:40 AM
MUMBAI (Scrap Register): Indian containerized shredded scrap import prices edged up during last week, while Indian aluminum scrap prices on Scrap Register Price Index remain flat.
According to The Steel Index, containerized shredded scrap prices for Indian imports edged up by $1 a ton to $290 a ton CFR Nhava Sheva last week.
The relative price stability can be attributed to the fact that limited scrap supply is being offset by poor finished steel demand in India.
Cheap semi-finished Chinese material continues to flood into the country, a trend that currently shows no sign of abating.
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Market sentiment remains depressed due to the impact of these cheap imports, particularly when they coincide with the June monsoon season and subsequent construction slowdown.
As per the Scrap Register Price Index, scrap prices for Aluminium Accessories, Aluminium ingots, Aluminium Rod Company, Aluminium Rod Local, Aluminium Sheet cutting, Aluminium utensil, Aluminium Wire remained flat during last week.