US scrap prices to sink further
It is reported that US scrap market appears soft due to the summer vacation and market activity is very quiet.
In the US, the average scrap price dropped by USD 25 per ton, a wide margin since August 4th 2008. Meanwhile, HMS and shredded scrap prices have been reduced by USD 50 to USD 70 per ton.
Only a few buyers in Turkey and Asian countries are continuing some small quantity purchasing. Distributors are expecting further decreases in prices.
Source: yieh.corp
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