Singapore—India’s announcement late Tuesday of a 21-day lockdown, effective Wednesday, rattled the ferrous scrap market as cancellations of shipments were heard being actioned, sources told S&P Global Platts. Some East Asian scrap suppliers who were looking to India as a brighter spot amid recently subdued Southeast Asian demand, were heard scrambling to cancel loadings since Monday, with getting wind of a possible lockdown prior to the announcement.
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