India containerized Shredded Scrap import prices rise

INDIA March 14 2016 10:35 AM

MUMBAI (Scrap Register): India containerized shredded scrap import prices edged up during the during the week ended March 04, while India's major plastic scrap prices on Scrap Register Price Index remained higher.

According to TSI, containerized shredded index for Indian imports rose by $1 a ton to finish the week at $204 a ton CFR Nhava Sheva port. 

Levels of trade were again strong on the back of the recent steel import price action. Bulk cargoes booked in recent weeks are beginning to arrive on Indian shores. 

At least some of these are split cargoes, with portions headed to different buyers taking advantage of the freight efficiency as opposed to booking containers.

However, demand for containerized material has also spiked, with buyers now routinely looking to the import market for material.

The major plastic scrap commodities showed an up trend on Scrap Register Price Index during the week. The plastic scrap commodities like ABS(bayr), API, HD Blowing, Hips(Baff), LLDP Blowing, PVC pest grade and PVC resin desi traded up during the week.