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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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Related articles
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.
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| Scrap (Photo credit: QualityFrog) |
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