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US scrap market sentiment strengthens for September
August 21, 2014 - 06:22 GMT
US ferrous scrap
Sentiment has lifted in the US ferrous scrap market for September on strengthening mill order books, finished steel prices and ferrous scrap export prices, as well as tighter scrap supply and transportation issues.
Market participants polled by Steel First sister title AMM
in an informal survey were more bullish on southern markets,
while Midwest market participants exercised more caution when
speculating about price trends for next month. Nonetheless,
two-thirds of survey respondents in the Midwest said they
expect prices to increase in September, while one-third expect
prices to remain unchanged. Of those in the Midwest
anticipating an uptick in prices, most said that prices could
increase by up to $10 per gross ton while 11 percent felt tags
could increase by as much as $20 per ton. Nearly 86% of the
survey respondents in the South and Southeast of the country
expect prices to increase in September, with an even split
between those anticipating increases of up to $10 per ton and
those pegging increases at between $10 and $20. Only 14% of
those polled in the South and Southeast said they expect prices
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Euromoney Institutional Investor PLC.
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