INDIA August 21 2015 8:52 AM
MUMBAI (Scrap Register): Indian containerized shredded scrap import prices declined in the week ended August 07, while Indian aluminium scrap prices on Scrap Register Price Index traded up.
According to TSI, containerized shredded index for Indian imports fell $5 a ton the week to $242 a ton CFR Nhava Sheva port.
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The Indian scrap market remains extremely slow with transactions continuing to be few and far between.
Market sentiment is still depressed as weak domestic finished steel demand and the depreciating Rupee take their toll on the scrap market participants.
Although there has been a considerable decrease in the amount of Chinese semi-finished products flooding in to the country, cheaper local material continues to provide a viable route to steelmaking, therefore decreasing the attractiveness of imported scrap.
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 traded up during last week.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)