UTC+8 ( BJT)

India scrap trade down on lockdown, weak rebar demand

India's imported scrap trade has slowed down due to stringent lockdown restrictions that have been implemented in different parts of the country amidst an exponential growth in COVID cases. This has forced many secondary steel producers (alloy & stainless steel producers) to curtail production, SteelMint learnt from its credible sources.
"Markets in India are stagnant due to rise in Covid-19 cases, so difficult to analyse where it is heading. International market is up after Turkey-based mills resumed bookings at increased offers. However, mills in India are cautious in placing bookings"shared a prominent scrap trader. Imported scrap offers to India remained mostly

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