India containerized shredded scrap import prices increased

 India  containerized shredded scrap import prices increased during the week ended  December 11, while Indian plastic scrap prices on Scrap Register Price Index  showed mixed trend.

According to TSI, containerized shredded index for  Indian imports increased slightly by $2 a ton to $202 a ton CFR Nhava Sheva  port. 

Steel exports are currently struggling to compete against  low-priced steel from Chinese mills, which are heavily overstocked. 

Indian  mills have therefore lost significant market share in the Middle East, Africa  and South America, areas that have traditionally preferred Indian material.  

Furthermore, the Indian government is considering restricting steel  imports, thereby essentially bringing the Indian steel market to a halt and also  significantly affecting the scrap sector.

The major plastic scrap  commodities showed mixed trend on Scrap Register Price Index during the week.  The plastic scrap commodities like ABS(bayr), API and C.P.W showed a flat trend  during the week ended December 04. 

However, the plastic scrap  commodities like Acrylic, Hips(Baff) and LLDP Blowing showed an up trend during  the week, while HD Blowing, HD Moulding (Colour), PVC pest grade and PVC resin  desi.
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