MRAI Hints at ‘Testing Times’ for Scrap Metal Traders

MRAI observed that the disruptions on account of the unforeseen situation have impacted the smooth execution of contracts.

SEATTLE (Scrap Monster): The Materials Recycling Association of India (MRAI) acknowledged that scrap traders doing business with the country are having “testing times”, on account of crisis situation caused by the pandemic.

According to Amar Singh, Secretary General, MRAI admitted that the industry is going through unprecedented and most challenging times, with nationwide lockdowns extended until 3^rd May, 2020. The topmost priority is to ensure safety and good health. However it is equally important for businesses to survive the economic blow unleashed by COVID-19 pandemic. MRAI will continue to work with all stakeholders to minimize the economic impacts caused by the crisis, he said.

MRAI observed that the disruptions on account of the unforeseen situation have impacted the smooth execution of contracts. He urged buyers and sellers to mutually accommodate each other in arriving at least financially painful solutions. The parties involved in the contract should discuss and solve contentious issues. MRAI’s Mediation Committee would be willing to intervene, upon agreement by concerned parties, it noted.

Meantime, MRAI noted that it is in constant touch with government departments on various issues including extension of free container detention periods and port demurrage, especially due to protracted lockdown period in the country.

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