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Mills avoiding bulk scrap buys before monsoon.
Steel demand likely to drop with seasonal slowdown.
Cautious buying to continue till post-monsoon clarity.
India’s imported scrap market continues to remain under pressure, with steel mills avoiding major restocking moves as the monsoon season approaches. The anticipated seasonal slowdown in construction activity has prompted mills to adopt a cautious procurement stance.
Market sources say mills are wary of potential inventory risks and price fluctuations that typically accompany monsoon months. A Mumbai-based trader shared, “With the rains coming, no one wants to overstock. Demand will ease, so mills prefer to stay light.”
Current import offers for containerised shredded scrap remain soft, and market participants believe this cautious trend will persist until post-monsoon demand picks up pace.
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