Tag: scrap supply oversupply
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US: Ferrous scrap export index drops $10/t w-o-w; domestic mills leverage ongoing supply glut
Warm weather boosts supply, pressuring domestic tags Turkish mills delay bookings amid weak steel demand BigMint’s US ferrous scrap export index slipped by $10/tonne (t) this week, with most April delivery negotiations concluded at lower price in the domestic market. Midwest steelmakers were able to secure significantly lower prices m-o-m, driven by mini-mills leveraging the…