MUMBAI (Scrap Register): India’s containerized shredded scrap import weekly average prices has showed a flat trend during the week ended July 07 this year, while major Indian plastic scrap prices on the Scrap Register Price Index gained slightly.
According to the Steel Index, prices have continued to remain flat in the Indian market. A bulk cargo ex-USA booking was heard this week, yet this was at current price levels.
Offers of $310-315 a ton CFR for shredded material were heard from the EU and UK markets. The rise in bulk cargo bookings in South East Asian countries have come about as a result of high disparity in freight charges along with unforeseen problems with containers.
In Pakistan, however, steel mills have slowed purchases of imported scrap due to a sharp fall in the rupee against the USD, with it currently being at a three year low.
The plastic scrap commodities like C.P.W, HD Blowing, HD Moulding (Colour), LLDP Blowing, PVC pest grade and PVC resin desi showed an up trend on the Scrap Register Price Index during the week.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
