01
Jun
15:56
Indian imported scrap drops, mills favour sponge iron
The recent ban on scrap exports by United Arab Emirates authorities, followed by the detention of containers by Indian Customs, has narrowed the scope for booking short-haul cargoes in India.
The long-haulage cargoes from the US and Europe usually take around 40-45 days to reach India, so many Indian mills have cut imported scrap bookings and increased sponge iron use instead, sources tell Kallanish.
"Offers for imported scrap have come down, despite the fac…
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Anonymous
Very good overview of the weekly steel market.
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