20
Oct
16:43
Indian scrap falls on rupee devaluation, sluggish market
The sluggish demand for rebar and billet amid the falling Indian rupee has stopped importers from booking material this week, forcing sellers to reduce offers in India.
The continued bulk bookings by the mills and readily available imported scrap in the market through previous bookings have flooded the market, thereby reducing the booking interest of the buyers, Kallanish notes.
This week, offers for bulk HMS 1&2 were heard at $410-415/tonne cfr Kan…
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Anonymous
Very good overview of the weekly steel market.
Anonymous