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26 Oct

Indian scrap intake improves, market displays festive bullishness

Following consecutive falls in imported scrap offers, Indian scrap importers feel prices have bottomed or are nearing the bottom. Furthermore, improved finished steel offtake is also supporting domestic steel mills and firming sentiment. As a result, imported scrap bookings improved slightly this week, sources tell Kallanish. “Compared to the last few weeks, the imported scrap bookings improved this week,” says a source. “The market feels that pr…
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