India containerized Shredded Scrap import prices advance sharply

INDIA April 04 2016 10:01 AM

MUMBAI (Scrap Register): India containerized shredded scrap import prices advanced sharply during the week ended March 18, while India's major plastic scrap prices on Scrap Register Price Index remained up.

According to TSI, containerized shredded index for Indian imports rose $13 a ton to finish the week at $223 a ton CFR Nhava Sheva port. 

Increased Indian demand, coupled with rising international prices, has meant Indian buyers have also had to hike their bids significantly to meet their melting requirements. 

Scrap buyers have to compete for an increasingly small pool of scrap, with some scrap merchants heard to be holding on to material in the expectation of higher prices to come.

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.

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