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05 Jun

US scrap readies for decline in June trading

Scrap prices in the US are expected to fall further from May values during June trading, which is expected to kick off this week, Kallanish notes. Despite the price recovery in Turkey, the largest export destination, lower scrap demand coupled with sufficient supply in the US market are expected to be the driving factor in domestic scrap price trend in June. The continuing decrease in steel prices is expected to impact mills’ demand for scrap, while supply…
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