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Falling domestic steel prices on the back of weaker sales have slashed imported scrap intake in India. Furthermore, owing to sufficient inventories and recent bookings, Indian mills are not hurrying to book fresh cargoes, sources tell Kallanish. Meanwhile, due to low booking interest in Turkey and letter-of-credit delays in Pakistan, pressure is mounting on sellers, and many scrap suppliers are considering diverting the Pakistan-destined cargoes to India. Offers h…
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