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Approaching fiscal year-end, a severe fall in domestic scrap and semi-finished steel prices has adversely impacted imported scrap intake in India. Fluctuations in currency and the recent fall in Turkish scrap prices have further dampened sentiment, owing to which most buyers have stopped their bookings and are observing the market, Kallanish notes. “Mills are short on inventories, and the drop in bookings is an alarming signal for the Indian scrap market ...…
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