Indian flat steel importers renege on import contracts

摘要

Indian steel coil buyers have begun to renege on their import contracts after significant price falls in flat products overthe past month, sources told Metal Bulletin. The weakness of the rupee against the dollar has added to importers' problems, with the exchange rate fallingto 52 rupees to the dollar, from 49.50-50 rupees last month. "Please don't talk about international steel prices to me. Talk about the sentiment - that is what is spoiling the game today," a tradertold Metal Bulletin.