India containerized Shredded Scrap import prices gain to $200 a ton

INDIA November 18 2015 4:45 PM     

MUMBAI (Scrap Register): India  containerized shredded scrap import prices gained to $200 a ton range during the  week ended November 06, while Indian plastic scrap prices on Scrap Register  Price Index also showed a flat trend.

According to TSI, containerized  shredded index for Indian imports advanced by $11 a ton to finish week at $200 a  ton CFR Nhava Sheva port.

Scrap demand in India  has been relatively strong compared to other regions recently, with Indian mills  taking advantage of a depressed US domestic market. In fact, Indian mills have  even been heard biding for US West coast material.

Several bulk cargoes  were also reportedly booked from the USEC into India, whilst US export yards  were able to raise their offers to Indian buyers on the back of heightened  interest from Turkish mills.

Import duties on Chinese steel appear to be  having the desired effect, with Indian mills looking for high volumes of  scrap.

The major plastic scrap commodities showed mixed trend on Scrap  Register Price Index during the week. The plastic scrap like ABS(bayr), API,  acrylic, C.P.W and hd moulding (colour) remained almost flat during the week.  

However, HD blowing, PVC pest grade and LLDP Blowing traded up, while  hips (baff) and PVC resin desi showed down trend during the week.