India Containerized Shredded Scrap import prices advance sharply; Plastic Scrap prices show mixed trend
MUMBAI (Scrap Register): India’s containerized shredded scrap import weekly average prices has advanced sharply during the week ended July 21 this year, while major Indian plastic scrap prices on the Scrap Register Price Index showed a mixed trend.
After the uncertainty of the newly implemented Goods and Services Tax (GST), a few scrap offers have entered the market.
Sources indicated that offers of $310-315 a ton for shredded 211 material was heard this week. A deal was also reported to have been done at $307 a ton for shredded material ex-Middle East.
An imbalance in supply and demand has been reported in the market as a number of small traders who used to make sales are finding the new norms of GST difficult to operate with.
The plastic scrap commodities like ABS(bayr), Acrylic, C.P.W HD Blowing and Hips(Baff) showed an up trend on the Scrap Register Price Index during the week, while HD Moulding (Colour), LLDP Blowing, PVC pest grade and PVC resin desi showed a down trend.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)