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US scrap market on downward trend

It is reported that the steel scrap trading volume in both US domestic and export market are fully subsided because market of end product slump, coupled with sluggish export market demand for scrap.

On the other hand, scarp prices are not expected to drop due to tight supply. Since early February, scrap prices declined by a total of USD 5 to USD 10 per tonne.

At present, the scrap price in east coast is around USD 225 to USD 235 per tonne, shredded scrap at USD 215 to USD 225 per tonne, H1 scrap at USD 190 to USD 200 per tonne.

Mar 5, 2009 12:55
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