01
Sep
16:08
Indian imported scrap softens amid plunging domestic market
Indian imported scrap offers have taken a direct hit from the plunging domestic market. The subdued demand has led billet to plummet in the domestic market by around INR 4,000/tonne ($50) on-week, ultimately impacting the intake of imported scrap.
After the arrival of bulk shipments, the market is flooded with readily available imported scrap, thus pressurising overseas sellers to drop their offers to compete in price, sources tell Kallanish.
Market participants …
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Anonymous
Very good overview of the weekly steel market.
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