Rerolling scrap prices in India weakened throughout June as sluggish downstream demand and competitive imports continued to pressure the market. Early-month trading remained stable with normal mill operations, but buying activity slowed toward the end of the month due to weaker demand from the construction and infrastructure sectors. Lower landed costs of imported ferrous scrap and favorable import duty provisions boosted overseas cargo competitiveness, while comfortable domestic inventories further limited price support. Looking ahead, rerolling scrap prices are expected to remain under pressure unless finished steel demand improves or import availability tightens. Overall, the near-term outlook for the rerolling scrap market remains bearish due to weak consumption and ample supply.
