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26 Feb

US scrap market debates extent of March decline

As sentiment turns more bearish, steep price declines have become inevitable in the US scrap market, notes Kallanish. As the negative developments in export markets coupled with falling steel prices have caused sentiment to worsen, market participants have started questioning if the price drop will reach $50/gross ton during March trading. Although some sources say prices for all grades will fall around $50/gt from February values during March trading as market …
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