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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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October 2019 | North American Steels


US scrap markets to stay weak in November despite resurgent exports, slower yard inflows: Raw Material Highlights


Turkish prices for US-origin import scrap fell 6.3% to average $227 per tonne cfr in September, with East Coast export prices down 19% to $213 per tonne fob.

As we expected, US domestic scrap prices fell again in October. Busheling #1 fell $40 per long ton ($39 per metric tonne) across the country, while shredded fell $35-36 in Chicago, Philadelphia and Pittsburgh. Conditions for US steel output and in the hot-rolled coil (HRC) markets have continued to deteriorate. Average weekly steel output fell 2.7% month on month and 2.4% year on year to 1.82 million tonnes, according to the AISI, the lowest since May...

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