"The way that banks have lent money in the past 8-9 years, I think that there are three parties to this: the loan-seeker, the lender and the person who is in between—the chartered accountant," says Chaudhary.
The global iron ore market’s junk problem just got worse. China’s push to clamp down on pollution is giving extra impetus to the use of scrap in steel-making, strengthening a long-term trend that sees mills in the top producer progressively favor recycling over the raw material.
Iron ore prices in the domestic market are on an uptrend due to robust demand even as global prices are stagnant. Over the past six months, global iron ore prices are steady at $65-70 a tonne, while domestic prices have escalated 40-45 per cent as imports have turned costlier due to rupee depreciation.
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