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03 Jun

US scrap market prepares for price decline

The US domestic scrap market is preparing for price declines across all grades as it gears up for June settlement, notes Kallanish. Mills are reported to have cancelled purchases on Friday that were not delivered by the end of May, in order to achieve lower prices in June. This was mostly the result of the continuing gradual slide in US domestic sheet values. Market sentiment, which deteriorated towards the end of last month, remained weak on the first day of Jun…
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