India containerized Shredded Scrap import prices drop further; Aluminium scrap prices stay flat

INDIA September 03 2015 3:32 PM

MUMBAI (Scrap Register): Indian containerized shredded scrap import prices dropped further in the week ended August 21, while Indian aluminium scrap prices on Scrap Register Price Index stayed flat.

According to TSI, containerized shredded index for Indian imports dropped $5 a ton the week to $241 a tonne CFR Nhava Sheva port. 

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Domestic scrap prices were heard to have risen sharply by as much as $10-15 a ton the week, against a back drop of tight import supply and a large depreciation in the Rupee. 

This served to make domestic scrap more attractive, and the effects could be felt on the import market in the coming days, with importers willing to pay more for material.

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 flat during the week.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)