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25 Apr
Approaching May trading, market participants in the US scrap market are seen to be more bearish about prices following a US-origin deal into Turkey at an unexpectedly low price, Kallanish notes. On Friday, a Turkish mill is heard to have bought a US-origin cargo comprising shredded and bonus grade at $596/tonne cfr Turkey. Although the Turkish market was already on a downward trend, such a price from the US was unexpected by many market players. Some participants…
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