25
Jun
10:53
Indian scrap-based secondary mills face margin challenges
Indian steel demand has slowed significantly since the election, impacting secondary mills' margins in June.
Interestingly, scrap-based mills are experiencing more pressure on their margins compared to direct reduced iron-based mills, observes Kallanish.
This is primarily because the drop in DRI prices has been sharper than the drop in scrap prices, affecting raw material-billet spreads.
In June, Indian domestic DRI prices have fallen by INR 3,250/tonne ($…
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Anonymous
Very good overview of the weekly steel market.
Anonymous