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04 Dec

US scrap prepares to settle higher

Sentiment in the US scrap market has improved further, following the sharp rises seen last week in Turkey, the largest export market, Kallanish notes. With trading expected to kick off imminently, market participants find price rises inevitable due to the $47.5/tonne increase in Turkish scrap and gradual US domestic hot rolled coil price rise since early November. Market participants are seen expecting prices to increase by $20-60/gross ton depending on the grade…
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