India’s scrapped ship imports hit a 2-year low in July

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A total of three vessels of combined 24,198 LDT arrived at Alang Port for recycling in Jul’22, down 66% compared with 71,745 LDT in June. These volumes are the lowest since May’20, as per data maintained with SteelMint.
Imports have been falling consistently on weaker sentiments due to the continual drop in currency, seasonal downtrend in steel demand due to rainfall in many regions and falling steel exports due to the levy of duty.

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