INDIA March 21 2016 10:17 AM
MUMBAI (Scrap Register): India containerized shredded scrap import prices gained during the week ended March 11, while India's major plastic scrap prices on Scrap Register Price Index showed an uptrend.
According to TSI, containerized shredded index for Indian imports rose $6 a ton to finish the week at $210 a ton CFR Nhava Sheva port.
Offers from international suppliers have risen in tandem with the Turkish and Asian markets, with Indian suppliers now forced to pay more to secure material.
With less Chinese production now allocated to export, Indian mills have more confidence in securing orders and are therefore able to buy into a rise in the scrap price.
The major plastic scrap commodities remained higher 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.
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