INDIA May 27 2016 2:03 PM
MUMBAI (Scrap Register): India containerized shredded scrap import prices remained flat week-on-week during the week ended May 06, while India's major plastic scrap prices on Scrap Register Price Index showed down trend.
According to TSI, containerized shredded index for Indian imports remained flat to finish the week at $273 a ton CFR Nhava Sheva port.
The Indian market has been very dull the past few weeks as a result of the $50- $60 a ton price disparity between international and domestic scrap rates.
According to a large steel manufacturer based in Mumbai, demand is improving in India, however, shredders are sending their material to other parts of Asia (i.e. Pakistan, Bangladesh, Indonesia) due to these regions’ willingness to pay much higher prices.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)