India Containerized Shredded Scrap import prices rise above $300 a ton

INDIA June 06 2017 12:17 PM

MUMBAI (Scrap Register): The containerized shredded scrap import weekly average prices in India gained to above $300 a ton in the ended May 12 this year, while major Indian plastic scrap prices on the Scrap Register Price Index showed a mixed trend.

According to TSI, index for shredded containerized scrap imports into India increased by $7 a ton the week to $301 a ton. India has continued to buy bulk scrap cargoes with sources indicating that buyers are very active in the market. 

Sources have also mentioned that close to ten vessels have been booked by Indian buyers. It was also reported last week that Japanese scrap exporters have become active in the Indian and Bangladeshi markets as a result of falling domestic prices as well as lower export bookings from Korea. 

This increase in price has evidently come about as a result of higher demand however, with Chinese scrap availability, market sources are wary of an oversupplied market.

According to Scrap Register Price Index, the plastic scrap commodities like Acrylic, C.P.W, HD Blowing, PVC resin desi, HD Moulding (Colour), LLDP Blowing and PVC pest grade traded lower, while ABS(bayr), API and Hips(Baff) showed flat trend.