By Vibin Antony
The containerized shredded prices for Indian imports fell $5 a ton to $320 a ton CFR Nhava Sheva port in the week ended January 30 as short term sentiment remained negative and billets from Russia and China continued to offer an attractive alternative to imported scrap.
As per TSI, Indian budget is presented on the 28 February and a number of scrap market participants are hoping to see a reallocation of import duties from steel making raw materials to semis/finished steel. If this occurs we may begin to see a few signs of recovery. In the meantime, however, the Indian scrap market looks set to remain depressed.
The prices for major scrap commodities of aluminum, brass, copper, plastic resin are showed an up trend on Scrap Register Indian Price Index as on Wednesday, while zinc, tin and plastic scrap prices posted a decline.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
The containerized shredded prices for Indian imports fell $5 a ton to $320 a ton CFR Nhava Sheva port in the week ended January 30 as short term sentiment remained negative and billets from Russia and China continued to offer an attractive alternative to imported scrap.
As per TSI, Indian budget is presented on the 28 February and a number of scrap market participants are hoping to see a reallocation of import duties from steel making raw materials to semis/finished steel. If this occurs we may begin to see a few signs of recovery. In the meantime, however, the Indian scrap market looks set to remain depressed.
The prices for major scrap commodities of aluminum, brass, copper, plastic resin are showed an up trend on Scrap Register Indian Price Index as on Wednesday, while zinc, tin and plastic scrap prices posted a decline.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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