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19 Oct

Indian imported scrap falls, market awaits bottom

In the midst of sluggish domestic finished steel demand, coupled with resulting cash liquidity issues, the imported scrap offers have plummeted further in India. Despite the drop in scrap offers, very limited transactions were concluded, sources tell Kallanish. “Currently, a majority of mills have at least 10,000-15,000 tonnes of rebar inventory available, and sales are severely down,” says a mill source. “In a situation like this, despite the fa…
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