INDIA May 25 2015 12:35 PM
MUMBAI (Scrap Register): Indian containerized shredded scrap import prices continued to stay stable in the week ended May 15, while Indian plastic scrap prices on Scrap Register Price Index showed mixed trend.
The major plastic scrap commodities showed a mixed tread on Scrap Register Price Index during the week. The plastic scrap like HD blowing, HD moulding(colour), PVC resin desi, LLDP Blowing are traded up, while acrylic, C.P.W, hips(baff), PVC pest grade showed a down treand.
According to the Steel Index, imports of scrap into India remained uninspiring the week as a number of factors conspired to keep the market depressed.
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The prices of sponge iron and locally sourced scrap are still low, ensuring imported scrap struggles to remain competitive. Demand for finished long products is still poor and, despite the potential for increased exports to Nepal after the recent earthquakes, the market remains pessimistic.
With talk of an increase in duties on imported steel once again flattering to deceive and the monsoon season fast approaching, market participants are struggling to see any meaningful positive demand or pricing movements until Q3 this year.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)