Effect of the Economic slowdown in the Indian Scrap Market
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Added:
20, November, 2008
From:
cgnadar
With almost every sector being hit worse by the economic slowdown, the scrap market is no exemption. To have a closer look in to the scrap market, we the RecycleinME team had a chat with the leading scrap traders of South India. According to the words of all the scrap traders, the prices of all the scrap materials have fallen below 50%. Though the prices of the scrap materials are dead cheap, there is no demand for the same. Scrap car demolition is the current attraction. Metal scrap is now taken for 16-18 INR/kg. The bitter fact is that Indian scrap marketers are unaware of the reason behind this decrease in demand. Some of them even think that it’s because of the rains and powercuts! However, due to low demand, these scrap traders now stock the scrap materials, hoping a better future to come along.