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US scrap prices surge sharply in November 2012
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Saturday, 17 Nov 2012

It is reported that the US scrap prices have rebounded sharply in November due to tight supply after slumping by USD 45 to USD 60 per long tonne in October 2012.

In October 2012, the US steel mills' scrap demand was weak in October 2012 because of the maintenance schedule, making the scrap prices slump by USD 45 to USD 60 per long tonne in the period of time.

However, the market situation reversed in November 2012. The US scrap prices have continued jumping since November on tight supply in winter.

Also, the Turkish steelmakers have aggressively purchased the US scraps for stockpiles recently, making the US scrap quotes to Turkey jump by USD 55 per tonne from a month ago to USD 420 per tonne C&F recently.



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