16 FEBRUARY 2015Shanghai Metal Market
Indian scrap prices may fall in line with global trend in February
Edited by : AL CIRCLE
1 min read
It would seem foolish to predict anything but a fall in Indian scrap prices in line with the global trend in February.
According to TSI, market participants are predicting a downward movement of around $10-15 a ton in the immediate future as the scrap industry cannot continue to play second fiddle to semi-finished material from Russia and China.
If this correction occurs it seems likely that the market will remain depressed with only the Indian budget and its potential increase in duties for semi-finished products, to be unveiled this month, offering a potential catalyst for recovery.
According to TSI, market participants are predicting a downward movement of around $10-15 a ton in the immediate future as the scrap industry cannot continue to play second fiddle to semi-finished material from Russia and China.
If this correction occurs it seems likely that the market will remain depressed with only the Indian budget and its potential increase in duties for semi-finished products, to be unveiled this month, offering a potential catalyst for recovery.
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