INDIA May 10 2016 12:23 PM
MUMBAI (Scrap Register): India containerized shredded scrap import prices slipped week-on-week during the week ended April 22, while India's major plastic scrap prices on Scrap Register Price Index remained lower.
According to TSI, containerized shredded index for Indian imports dropped $1 a ton to finish the week at $262 a ton CFR Nhava Sheva port.
Indian buyers are currently not buying due to the increasing gap between international and domestic prices.
Participants stated that in order for Indians to start buying again, either domestic Indian scrap prices have to go up, or international prices need to come down to more manageable levels.
The major plastic scrap commodities remained lower on Scrap Register Price Index during the week. The plastic scrap commodities like ABS(bayr), Acrylic, API, C.P.W, HD Blowing, HD Moulding (Colour), LLDP Blowing, PVC pest grade and PVC resin desi traded down during the week.