India containerized Shredded Scrap import prices inch up

INDIA February 16 2016 10:11 AM     

MUMBAI (Scrap Register): India  containerized shredded scrap import prices inched up during the week ended  February 12, while India's major plastic scrap prices on Scrap Register Price  Index showed a mixed trend.

According to TSI, containerized shredded  prices for Indian imports advanced slightly by $1 a ton from last week to finish  at $202 a ton CFR Nhava Sheva port.

Sentiment has been boosted in  the domestic market by the introduction of the minimum import price for finished  steel, with prices for both steel and scrap expected to increase in line with  this.

More movement is expected next week once this latest move by the  government has been digested.

The major plastic scrap commodities showed  a mixed trend on Scrap Register Price Index during the week. The plastic scrap  commodities like, ABS(bayr), API, HD Moulding (Colour),Hips(Baff) and LLDP  Blowing traded down during the week.

Acrylic and HD Blowing traded up,  while PVC pest grade, PVC resin desi and PVC resin desi remained flat during the  week.