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11 Sep

US scrap trading kicks off, prime grades plummet

Trading in the US domestic market kicked off last Friday after a Midwest mill bid for prime grade scrap at $50/gross ton down from August deliveries, notes Kallanish. The same mill and another mill in the southeast nevertheless announced unchanged prices from the prior month for obsolete grades. Some US mills’ planned outages in September and October are negatively impacting their demand for scrap. On the other hand, as the supply of obsolete grades is quit…
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