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.