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23 Jan

US scrap prices remain firm despite diverging expectations

Approaching February trading, US market participants’ expectations for scrap prices seem to be diverging, Kallanish notes. Although most suppliers expect prices to increase further due to weak inflow of the material, some, mostly producers, question this amid high inflation and possible US recession. “Shredded scrap prices have already increased by more than $50/gross ton in two months. Steel sales have to support these increases, but we are not yet a…
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