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Posted date: 05-10-2016
Obsolete shredded scrap prices in the Indian containerized market increased $6 a ton this week to $228 a ton CFR Nhava Sheva port. The rise in prices can be explained as a result of DRI and billet prices strengthening in the domestic market.
After the slowdown in buying activity in the past few months, market participants are optimistic that mills may resume purchases again. However, with demand still sluggish for finished products, this may still be slow.
The major plastic scrap commodities showed a mixed trend on Scrap Register Price Index during the week. The plastic scrap commodities like ABS(bayr), Acrylic, API, C.P.W,, PVC resin desi remained steady during the week.
The plastic scrap commodities like HD Blowing, HD Moulding (Colour), Hips(Baff) and LLDP Blowing showed an up trend while PVC pest grade traded higher.
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