Scrap prices, usually a good lead indicator for carbon steel prices, are also trending down; European scrap prices are softening on weak demand from Turkey, prompting Platts to lower its assessment for heavy melting scrap by $7/t to $353.
US scrap prices are also trending down on weak export demand; US scrap prices have now given back circa half of the $20/t increase achieved in early September. This is mirrored by the recent fall in price expectations.
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