By Vibin Antony
It would seem foolish to predict anything but a fall in Indian scrap prices in line with the global trend in February.
The market participants are predicting a downward movement of around $10-15 a ton in the immediate future as the scrap industry cannot continue to play second fiddle to semi-finished material from Russia and China.
According to The Steel Index, If this correction occurs it seems likely that the market will remain depressed with only the Indian budget and its potential increase in duties for semi-finished products, to be unveiled this month, offering a potential catalyst for recovery.
However, the prices for brass, tin and nickel & alloy scrap are showed a down trend as on Scrap Register Price Index on Wednesday, while copper, plastic and plastic resin scrap prices showed mixed trend. Aluminum, lead and zinc are traded flat.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
It would seem foolish to predict anything but a fall in Indian scrap prices in line with the global trend in February.
The market participants are predicting a downward movement of around $10-15 a ton in the immediate future as the scrap industry cannot continue to play second fiddle to semi-finished material from Russia and China.
According to The Steel Index, If this correction occurs it seems likely that the market will remain depressed with only the Indian budget and its potential increase in duties for semi-finished products, to be unveiled this month, offering a potential catalyst for recovery.
However, the prices for brass, tin and nickel & alloy scrap are showed a down trend as on Scrap Register Price Index on Wednesday, while copper, plastic and plastic resin scrap prices showed mixed trend. Aluminum, lead and zinc are traded flat.
(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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