26
May
16:09
Indian imported scrap plunges after duty imposition
India’s export duty imposition has hit steel dynamics in India, sending domestic scrap, billet and rebar prices free-falling since Monday. Demand for imported scrap has consequently dried up, sources tell Kallanish.
On Monday, a day after the new duties took effect, domestic scrap, billet and rebar plunged by a whopping INR 5,000/tonne ($64.44) on-week and continue to run on bearish sentiment.
Offers for UK- and US-origin shredded scrap plummeted by a furth…
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Anonymous
Very good overview of the weekly steel market.
Anonymous