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06 May

US scrap to trend mostly sideways in May

US domestic scrap prices, which are expected to settle this week for May trading, are showing early signs of a sideways trend. A slight softening is however also expected by some market participants, specifically for cut grades. Although there were early expectations that prime grades would edge up, these seem to have disappeared amid planned maintenance works at some mills in May. A US scrap dealer tells Kallanish: “Supply and demand seem in equilibrium. B…
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