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The Ukraine-Russia war has changed priorities for the majority of the population globally. Steel-containing goods are considered low-priority and therefore steel demand is plunging in Europe, the Middle East, Asia and Turkey, Indian market participants tell Kallanish. Low prices from Russia and China are further hurting sentiment, making Indian offers look unworkable. Hot rolled coil offers are falling, mills and traders are making notes of bids, but quotes are ne…
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