19
May
15:55
Indian rebar demand is under pressure from rising inflation, low construction activities and deteriorating market sentiment, with end users restricting non-essential spending. This is ultimately hitting steel production and therefore raw material purchases, including ferrous scrap. The rupee devaluation is also preventing mills from procuring foreign materials.
To lure buyers, sellers have dropped their scrap offers, but mills prefer to wait and watch before takin…
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Sayed Aameer
India
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