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13 May

US scrap market settles sideways to down

The US scrap market has seen soft sideways price movement during May trading, which started last week, as had been expected by participants, notes Kallanish. Prime grades remained unchanged in both the Midwest and Southeast, while cut grades decreased by $10-20/gross ton from April values, depending on the region. Mills’ lower demand amid outages, sliding US domestic hot rolled coil quotes and depressed export prices have prevented values from recovering in…
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