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Following the price surge in recent deals in Turkey, which stimulated sentiment, scrap suppliers have hiked their offers to the Indian subcontinent as well. However, owing to a large pile-up of scrap inventories in Kandla, Chennai and Vizag, Indian buyers have slowed their purchases and are in wait-and-watch mode, sources tell Kallanish. This week, offers for US- and EU-origin HMS and shredded mix bulk cargoes have surged to $420-425/tonne cfr Kandla and Chennai; …
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