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The long-lasting downtrend in Turkish scrap prices is seen to have ended and sentiment has improved following India’s export duty imposition. Suppliers are seen strongly resisting lower Turkish bids. Although Turkish mills had been targeting to buy premium HMS 1&2 80:20 at below $450/tonne cfr Turkey, this level now seems unworkable after sentiment became more bullish. Effective 22 May, India hiked export duties on iron ore and some steel products. Turk…
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