Steel Demand Increasing

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Heavy Melting Scrap is in High Demand

The soaring prices of Steels in China and India has resulted in increase of the prices of Iron Ore, Iron Metals Scrap, Coal and other steel making raw material. This may continue to increase in the coming days. During the financial year 2011, Chinese production was marked as record high due to high demand from the world market especially from residential projects and infrastructure.

It is expected that the prices of steel will increase in or after the month of October. The demand is growing due to the urbanization of India and China along with other countries.

Scrap (Photo credit: QualityFrog)

In India, the ban of iron ore from the major mineral supplying state of Karnataka has pushed the operational costs which showed the negative impact on the production of steel in India. The metal stocks were trading low.

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