25
Aug
15:53
Indian imported scrap plunges on subdued domestic sentiment
Indian imported scrap offers took a hit amid a downfall in domestic billet and rebar prices. The arrival of bulk shipments further plummeted the offers, as many bulk importers reportedly started selling the scrap at much lower prices on a stock and sell basis, Kallanish notes.
This week offers for the UK- and EU-origin containerised shredded scrap plummeted by $15-20/tonne on-week to $480-485/t cfr Kandla and Nhava Sheva. A few sources also confirmed receiving shr…
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Anonymous
Very good overview of the weekly steel market.
Anonymous