09
May
16:00
Pressure increases on US scrap prices amid oversupply
US scrap trading, which kicked off on 5 May, is seen struggling with lower mill bids. The overhang of scrap supply in the domestic market - coupled with weak export sales, lower pig iron prices and falling steel prices - is seen to have directed mills to try further decreases.
Although initial bids were down by $75/gross ton for all grades from April trading in most regions, drops of $100/gt for premium grades appear to have been tested by two Detroit mills while…
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Anonymous
Very good overview of the weekly steel market.
Anonymous