SteelMint

Tag: India ferrous scrap imports

  • Indian Scrap Importers Turn Silent Over Currency Depreciation

    Indian Scrap Importers Turn Silent Over Currency Depreciation

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    by

    Kedar
    in

    Plunge in domestic scrap prices by INR 600-800/MT on W-o-W basis has made steel mills to prefer it over costlier imported scrap. In recent conversations with market participants, SteelMint learned that Indian importers have turn absolutely silent for scrap imports on the major reason of unfavorable depreciation of INR against USD making imports costlier. USD/INR…