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08 Jun

Indian scrap improves amid domestic, global sentiment uptick

The improvement in the Indian domestic steel market, coupled with recent bookings concluded in Turkey at fairly high prices and a rebound in Chinese sentiment, have lifted scrap bookings in India this week. However, the approaching monsoon and sluggish demand thereafter pose questions over the sustainability of bookings at higher prices, sources tell Kallanish. The consumption of direct reduced iron is increasing in the domestic steel market, and a majority of m…
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