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  • Metals - Ferrous Scrap : 2500 MT @ US$ 450 [ New Delhi, India 10:22 AM IST, 2014 April 19 ]
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  • Metals - Non-Ferrous Scrap : 2000 MT @ US$ 4500 [ Saronno (VA), Italy 2:47 AM IST, 2014 April 23 ]
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  • Plastic Scrap : 500 Ton @ US$ 300 [ Damietta , Egypt 12:20 PM IST, 2014 April 19 ]
  • Metals - Non-Ferrous Scrap : 10 Ton @ US$ 1 inr [ bawana, India 6:55 AM IST, 2014 April 18 ]
  • Metals - Ferrous Scrap : 24 MT @ US$ Rock Bottom in USD [ Lahore, Pakistan 2:10 AM IST, 2014 April 16 ]
  • India cuts import tariff value of Gold, Silver

    INDIA July 01 2013 5:45 PM

    MUMBAI (Scrap Register): World's biggest bullion consumer India has cut its import tariff value of gold and silver mainly due to the falling global price trends.

    India has reduced its import tariff value of gold from $459 to $401 per ten grams and lowered its silver import tariff value from $737 to $604 a kilo gram.

    Tariff value is the base price on which the customs duty is determined to prevent under-invoicing. The notification in this regard has been issued by the Central Board of Excise and Customs (CBEC).

    According to the Ministry, the CBEC has effected the changes as per sub seciton 92 of section 14 of the Customs Act, 1962. India governmment continues to impose curbs on gold imports and purchases to check the rising current account deficit (CAD).

    According to World Gold Council, India, which represents 28% of global consumer demand for gold, may see an increase of up to 150% year-on-year in the second quarter of this year. This suggests that up to 400 tons of gold may be imported into India during Q2 2013, almost half of the total imports in the whole of 2012.

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