By Vibin Antony
The containerized shredded scrap prices for Indian imports dropped further by $3 a ton to $279 a ton CFR Nhava Sheva port last week, as per The Steel Index.
There has been strong buying from mills this week as they sought to restock after largely staying away from the market for the last two months. This increase in activity was seen as a call on the market having bottomed by some, but others feel prices will continue to fall into March.
The Indian domestic market saw a swift uptick in pricing as rumors spread that scrap import duties might be removed in the next budget.
As per Scrap Register Price Index, aluminum, brass, copper, zinc and lead traded almost flat last week, while plastic showed an up trend. Nickel and plastic resin traded down.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
The containerized shredded scrap prices for Indian imports dropped further by $3 a ton to $279 a ton CFR Nhava Sheva port last week, as per The Steel Index.
There has been strong buying from mills this week as they sought to restock after largely staying away from the market for the last two months. This increase in activity was seen as a call on the market having bottomed by some, but others feel prices will continue to fall into March.
The Indian domestic market saw a swift uptick in pricing as rumors spread that scrap import duties might be removed in the next budget.
As per Scrap Register Price Index, aluminum, brass, copper, zinc and lead traded almost flat last week, while plastic showed an up trend. Nickel and plastic resin traded down.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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