09
Mar
16:37
Indian scrap surges on steel demand recovery anticipation
The Indian steel market was slow this week amid the Holi festival, but scrap offers continued to pick up on the back of recent bookings done in Turkey. Most buyers remained bearish this week but expect billet prices in the domestic market to pick up next week by at least INR 2,000-3,000/tonne ($24).
This hike is also predicted to improve overall market sentiment in India, and scrap trade is also expected to surge next week, sources tell Kallanish.
According to so…
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Anonymous
Very good overview of the weekly steel market.
Anonymous