Last Updated: 5/21/2025 11:39:00 PM
Indian metal importers report a rapidly declining market for the steel scrap business. Steel demand in Asian has dropped off since the beginning of May, but this is not the primary contributor to the falling import prices in India. The Indian currency has depreciated against the US dollar by close to 6% in the last month and traders are increasingly concerned of the policy paralysis that continues to hamper economic progress to a large extent. The Imports are done judiciously as their oncern on the lower value of Rupee against the dollar. The impact is such there is an additional import duty on steel scrap making their taks very tough for the producers during the sliding market conditions with lowest demand witnessed all over the world.
