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14 Oct

Indian mills fear production curbs on costlier scrap

Indian imported scrap prices are rising in parallel with the Turkish and European markets, Kallanish notes. Indian mills fear this will either force them to increase finished steel prices amid low steel demand, or they will be forced to reduce production. US and UK-origin shredded scrap quotes are at $530-535/tonne cfr Nhava Sheva. European yards have dramatically increased their offers to $505-510/t fob Europe, owing to which the landed cost in India is not feasi…
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